Quicko:
The brink for TCS on international remittances beneath the LRS scheme has elevated from ₹7 lakh to ₹10 lakh.
From what date this modification applies? At present?
Debt funds are usually not at a particular fee. So that they proceed as regular and relevant for rebate like wage, FD revenue
1 Like
Since the advantages of 87A aren’t accessible for stcg on fairness shares anymore, can we report stcg as enterprise revenue and avail advantages of Presumptive revenue on that?
Hey @KD61
The change will turn into relevant from April 01, 2025 i.e. subsequent monetary yr.
Thanks
@Quicko please reply on this
Hi there @Ravi_Shankar
Sure rebate u/s 87A just isn’t accessible towards the particular fee Revenue. Thus you could pay tax on LTCG even whether it is 7 lakhs.
Nevertheless, you possibly can declare primary exemption restrict of 4 lakhs beneath the brand new regime in case you shouldn’t have every other revenue. Additionally, LTCG as much as 1.25 lakhs is exempt which implies for those who shouldn’t have every other revenue, LTCG as much as 5.25 lakhs is exempt beneath the brand new tax regime.
Thanks
