Budget changes: Will capitals gains make you ineligible for tax rebate?

Q: How long will it take to read this news story?

The story "Budget changes: Will capitals gains make you ineligible for tax rebate?" has 1063 words across 38 sentences, which will take approximately 5 - 9 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Budget changes: Will capitals gains make you ineligible for tax rebate?" was covered 1 days ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 153 news stories per day. It's most recent story was published 4 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #26311884</li><li>URL: https://chronographically.beamstart.com/news/budget-changes-will-capitals-gains-17401128023653</li></ul>

Business Standard Logo Business Standard 1d ago

Budget changes: Will capitals gains make you ineligible for tax rebate? - Business Standard

Quick Summary:

Pre-Budget 2025, taxpayers could claim the rebate if their total income was Rs 7 lakh or below.

However, if the total income of the taxpayer exceeds the minimum threshold limit, then the taxpayer shall be liable to pay on the total income without being entitled to the rebate available under section 87A, as being demonstrated in the above table," said Patnaik.

Accordingly, it can be concluded that rebate shall be applicable all kinds of income including long term capital gains on sale of capital assets other than listed equity shares or equity-oriented mutual funds," said Rajarshi Dasgupta, Executive Director-Tax, AQUILAW.