{"id":32193,"date":"2026-06-25T00:53:30","date_gmt":"2026-06-24T19:23:30","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=32193"},"modified":"2026-06-25T01:12:54","modified_gmt":"2026-06-24T19:42:54","slug":"salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/","title":{"rendered":"Salary Rs 12.75 Lakh Still but Have to Pay Tax in FY 2025-26"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c55cab0b18\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c55cab0b18\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Salary_up_to_INR_1275_Lakh_You_May_Still_Have_to_Pay_Tax_in_FY_2025-26_AY_2026-27\" title=\"Salary up to INR 12.75 Lakh? You May Still Have to Pay Tax in FY 2025-26 (AY 2026-27)\">Salary up to INR 12.75 Lakh? You May Still Have to Pay Tax in FY 2025-26 (AY 2026-27)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#The_INR_1275_Lakh_Tax-Free_Myth_Explained\" title=\"The INR 12.75 Lakh Tax-Free Myth Explained\">The INR 12.75 Lakh Tax-Free Myth Explained<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Why_Filing_ITR_is_Still_Important\" title=\"Why Filing ITR is Still Important\">Why Filing ITR is Still Important<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Incomes_That_Can_Still_Attract_Tax\" title=\"Incomes That Can Still Attract Tax\">Incomes That Can Still Attract Tax<\/a><ul class='ez-toc-list-level-2'><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#1_Capital_Gains_Can_Still_Trigger_Tax_Liability\" title=\"1. Capital Gains Can Still Trigger Tax Liability\">1. Capital Gains Can Still Trigger Tax Liability<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Listed_Equity_Shares\" title=\"Listed Equity Shares\">Listed Equity Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Listed_Equity-Oriented_Mutual_Funds\" title=\"Listed Equity-Oriented Mutual Funds\">Listed Equity-Oriented Mutual Funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Listed_Debentures\" title=\"Listed Debentures\">Listed Debentures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Listed_Preference_Shares\" title=\"Listed Preference Shares\">Listed Preference Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Debt_Mutual_Funds_and_Market-Linked_Debentures\" title=\"Debt Mutual Funds and Market-Linked Debentures\">Debt Mutual Funds and Market-Linked Debentures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Unlisted_Shares\" title=\"Unlisted Shares\">Unlisted Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Unlisted_Debentures_and_Bonds\" title=\"Unlisted Debentures and Bonds\">Unlisted Debentures and Bonds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Immovable_Property\" title=\"Immovable Property\">Immovable Property<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#2_Virtual_Digital_Assets_Crypto_Income\" title=\"2. Virtual Digital Assets (Crypto Income):\">2. Virtual Digital Assets (Crypto Income):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#3_Lottery_Horse_Racing_and_Similar_Winnings\" title=\"3. Lottery, Horse Racing, and Similar Winnings:\">3. Lottery, Horse Racing, and Similar Winnings:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Cases_Where_Income_Tax_Return_Filing_May_Still_Be_Mandatory\" title=\"Cases Where Income Tax Return Filing May Still Be Mandatory\">Cases Where Income Tax Return Filing May Still Be Mandatory<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Common_Misconceptions_related_to_Filing_Income_Tax_Return\" title=\"Common Misconceptions related to Filing Income Tax Return \">Common Misconceptions related to Filing Income Tax Return <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/carajput.com\/blog\/salary-rs-12-75-lakh-still-but-have-to-pay-tax-in-fy-2025-26\/#Key_Takeaway\" title=\"Key Takeaway\">Key Takeaway<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-32194\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-24-at-8.36.28-PM.jpeg\" alt=\"Salary up to INR 12.75 Lakh\" width=\"1254\" height=\"1254\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-24-at-8.36.28-PM.jpeg 1254w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-24-at-8.36.28-PM-300x300.jpeg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-24-at-8.36.28-PM-1024x1024.jpeg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-24-at-8.36.28-PM-150x150.jpeg 150w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-24-at-8.36.28-PM-768x768.jpeg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-24-at-8.36.28-PM-800x800.jpeg 800w\" sizes=\"(max-width: 1254px) 100vw, 1254px\" \/><\/h2>\n<h1><span class=\"ez-toc-section\" id=\"Salary_up_to_INR_1275_Lakh_You_May_Still_Have_to_Pay_Tax_in_FY_2025-26_AY_2026-27\"><\/span><span style=\"color: #000080;\"><strong>Salary up to INR 12.75 Lakh? You May Still Have to Pay Tax in FY 2025-26 (AY 2026-27)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><em>Many salaried taxpayers believe that income up to INR 12.75 lakh is completely tax-free under the new tax regime. While this is broadly true for pure salary income, there are important exceptions that can still create a tax liability. Understanding these exceptions can help taxpayers avoid surprises while filing their income tax return for AY 2026-27.<\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_INR_1275_Lakh_Tax-Free_Myth_Explained\"><\/span><span style=\"color: #000080;\"><strong>The INR 12.75 Lakh Tax-Free Myth Explained<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Following the changes announced in the Union Budget, salaried individuals under the new tax regime can effectively have zero tax liability on salary income up to INR 12.75 lakh, thanks to Rebate U\/s 87A and Standard Deduction available to salaried taxpayers. However, there is one critical condition:<\/li>\n<li>Taxpayer must file your income tax return to claim the rebate. Many taxpayers mistakenly assume that no tax is payable under all circumstances if their total income is below INR 12.75 lakh. This is not entirely correct.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Why_Filing_ITR_is_Still_Important\"><\/span><span style=\"color: #000080;\"><strong>Why Filing ITR is Still Important<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Even when tax liability becomes nil due to the Section 87A rebate, filing the return remains important because It is necessary to claim the rebate, it serves as proof of income, It helps in visa applications and loan approvals, and It establishes tax compliance records. For AY 2026-27, taxpayers not liable for audit are generally required to file their income tax return by 31 July 2026.<\/li>\n<\/ul>\n<h1><span class=\"ez-toc-section\" id=\"Incomes_That_Can_Still_Attract_Tax\"><\/span><span style=\"color: #000080;\"><strong>Incomes That Can Still Attract Tax<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2><span class=\"ez-toc-section\" id=\"1_Capital_Gains_Can_Still_Trigger_Tax_Liability\"><\/span><span style=\"color: #000080;\">1. Capital Gains Can Still Trigger Tax Liability<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Capital Gains Tax Rates Applicable for AY 2026-27 Despite Salary Being Below INR 12.75 Lakh. Many taxpayers assume that if their salary income is within \u20b912.75 lakh, they will not pay any tax. But Section 87A rebate does not fully eliminate tax on certain capital gains taxed at special rates. Section 87A rebate is generally not available against tax payable on special-rate capital gains. So even if the taxpayer&#8217;s salary is below INR 12.75 lakh, the taxpayer may still have to pay tax on it. The following table explains the applicable tax treatment:<\/p>\n<div>\n<h3><span class=\"ez-toc-section\" id=\"Listed_Equity_Shares\"><\/span><span style=\"color: #000080;\">Listed Equity Shares<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 12 months = Long-Term Capital Asset<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Rate<\/td>\n<td>Gains up to \u20b91.25 lakh exempt; gains exceeding \u20b91.25 lakh taxable at 12.5%<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>Example:<\/strong> If you earn INR 2 lakh, a long-term capital gain from listed shares of INR 1.25 lakh is exempt, and INR 75,000 is taxable at 12.5%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Listed_Equity-Oriented_Mutual_Funds\"><\/span><span style=\"color: #000080;\">Listed Equity-Oriented Mutual Funds<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\" style=\"height: 160px;\" width=\"665\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 12 months<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Rate<\/td>\n<td>Taxable at 12.5% on gains exceeding \u20b91.25 lakh<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>This includes most equity mutual funds where a substantial portion is invested in equity shares.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Listed_Debentures\"><\/span><span style=\"color: #000080;\">Listed Debentures<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\" style=\"height: 161px;\" width=\"661\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 12 months<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Rate<\/td>\n<td>12.5% without indexation benefit<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>normal tax slab rates<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><span style=\"color: #000080;\"><strong>Listed Shares and Equity Mutual Funds<\/strong><\/span><\/p>\n<ul>\n<li>Long-Term Capital Gain exceeding INR 1.25 lakh \u2013 taxable at 12.5%<\/li>\n<li>Short-Term Capital Gain \u2013 taxable at 20%<\/li>\n<li>The Finance Act has removed indexation benefits for many assets, making gains taxable at a flat rate.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Listed_Preference_Shares\"><\/span><span style=\"color: #000080;\">Listed Preference Shares<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\" style=\"height: 140px;\" width=\"763\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 12 months<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Tax Rate<\/td>\n<td>12.5% without indexation<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>normal tax slab rates<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"Debt_Mutual_Funds_and_Market-Linked_Debentures\"><\/span><span style=\"color: #000080;\">Debt Mutual Funds and Market-Linked Debentures<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 24 months<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Rate<\/td>\n<td>Acquired before 1 April 2023: 12.5% without indexation; acquired after 1 April 2023: gains taxable at slab rates<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>Taxed at normal tax slab rates<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>These investments no longer enjoy the traditional long-term capital gain\u00a0benefits available earlier.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Unlisted_Shares\"><\/span><span style=\"color: #000080;\">Unlisted Shares<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\" style=\"height: 152px;\" width=\"674\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 24 months<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Rate<\/td>\n<td>12.5% without indexation<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>Taxed at slab rates<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><span style=\"color: #000080;\"><strong>Unlisted Shares<\/strong><\/span><\/p>\n<ul>\n<li>Long-Term Capital Gain \u00a0\u2013 taxable at 12.5%<\/li>\n<li>Short-Term Capital Gain \u2013 taxed at applicable slab rates<\/li>\n<\/ul>\n<p>This category includes shares of private limited companies and startups.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Unlisted_Debentures_and_Bonds\"><\/span><span style=\"color: #000080;\">Unlisted Debentures and Bonds<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\" style=\"height: 172px;\" width=\"689\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 24 months<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Rate<\/td>\n<td>Not applicable in most cases<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>Taxed at slab rates irrespective of holding period<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"Immovable_Property\"><\/span><span style=\"color: #000080;\">Immovable Property<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___i31lg00 f10pi13n f14t3ns0 f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___14hgwyo f1ddd56o f16vktn6 f1enuhaj fdclmfp ftgm304 f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f1s2k7dp f8fmt76 fjvbh62 fysh76l fic4ptz f1yenhzu f1yn6nvh f14tj6oe f1jq587y f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f70r78m f4zgifc fk1v6el f16pyhcb fo436u6 fzy4j18 fc43013 f1hmrcvb fc4t9fq fgp09rh fjnyn6r\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Holding Period<\/td>\n<td>More than 24 months<\/td>\n<\/tr>\n<tr>\n<td>Long-Term Capital Gain Tax Rate<\/td>\n<td>Property acquired on or after 23 July 2024: 12.5% without indexation. Property acquired before 23 July 2024: taxpayer may opt for 20% with indexation (subject to applicable provisions) or 12.5% without indexation where permitted.<\/td>\n<\/tr>\n<tr>\n<td>Short-Term Capital Gain Tax Rate<\/td>\n<td>normal tax slab rates<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<p><span style=\"color: #000080;\"><strong>Immovable Property<\/strong><\/span><\/p>\n<ul>\n<li>Long-Term Capital Gain generally taxable at 12.5% (without indexation)<\/li>\n<li>Short-Term Capital Gain taxable according to slab rates<\/li>\n<li><strong><span style=\"color: #000080;\">Illustration :<\/span> <\/strong>Suppose Salary Income is INR 11 lakh and Long-Term Capital Gain from shares: INR 2 lakh. Even though salary income may qualify for rebate, tax on long-term capital gain may still be payable.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"2_Virtual_Digital_Assets_Crypto_Income\"><\/span><span style=\"color: #000080;\"><strong>2. Virtual Digital Assets (Crypto Income):<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23369\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/03\/VDA-1.jpg\" alt=\"Digital Currency &amp; Virtual Digital Assets\" width=\"918\" height=\"1280\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/03\/VDA-1.jpg 918w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/03\/VDA-1-215x300.jpg 215w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/03\/VDA-1-734x1024.jpg 734w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/03\/VDA-1-768x1071.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/03\/VDA-1-800x1115.jpg 800w\" sizes=\"(max-width: 918px) 100vw, 918px\" \/><\/p>\n<p>Income from cryptocurrencies and other virtual digital assets continues to be taxed at a special rate. The tax rate is a flat 30% tax and Applicable cess and surcharge extra Key Restrictions: Only the cost of acquisition can generally be deducted. Losses cannot be set off against other income and basic exemption, and rebate benefits do not provide relief against this special-rate tax. Example: If a taxpayer earns Salary: INR 10 lakh and Crypto Profit: INR 1 lakh. Tax may still be payable on the crypto income despite salary income being within the rebate threshold.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_Lottery_Horse_Racing_and_Similar_Winnings\"><\/span><span style=\"color: #000080;\"><strong>3. Lottery, Horse Racing, and Similar Winnings:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Income from Lottery, Online gaming winnings, Horse racing, Crossword puzzles, Other specified speculative winnings is taxed at a flat 30% rate. Section 87A rebate generally does not eliminate this tax liability.<\/p>\n<div>\n<h2><span class=\"ez-toc-section\" id=\"Cases_Where_Income_Tax_Return_Filing_May_Still_Be_Mandatory\"><\/span><strong style=\"color: #000080;\">Cases Where Income Tax Return Filing May Still Be Mandatory<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<p>Many taxpayers believe that if taxable income is below the exemption limit, filing is not required. This is not always correct. ITR filing may become mandatory if a taxpayer has undertaken specified high-value transactions. Even if taxable income falls below the threshold, income tax return filing may still be compulsory under certain circumstances.\u00a0<span style=\"color: #000080;\">ITR Filing May Still Be Mandatory Even Below Basic Exemption Limit,\u00a0<\/span>Examples include:<\/p>\n<ul>\n<li>High Electricity Consumption: If electricity expenditure exceeds the prescribed limit (commonly INR 1 lakh or more), filing requirements may arise. If electricity expenditure during the year is \u20b91 lakh or more, filing may be required.<\/li>\n<li>Foreign Travel: Foreign travel expenditure above prescribed limits may trigger mandatory filing obligations. If expenditure on foreign travel exceeds \u20b92 lakh, return filing may become compulsory.<\/li>\n<li>High-Value Transactions:<\/li>\n<li>Examples include\u00a0<span style=\"font-size: 16px;\">Large bank deposits, <\/span><span style=\"font-size: 16px;\">Specified financial investments, <\/span><span style=\"font-size: 16px;\">Certain high-value credit card spending, and <\/span><span style=\"font-size: 16px;\">other prescribed transactions <\/span>may require return filing even where income is otherwise not taxable.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Common_Misconceptions_related_to_Filing_Income_Tax_Return\"><\/span><span style=\"color: #000080;\"><strong>Common Misconceptions related to Filing Income Tax Return <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000080;\"><strong>Myth 1: Income Below INR 12.75 Lakh Means No<\/strong><strong> Income Tax Return<\/strong><\/span><\/p>\n<ul>\n<li>Reality: Filing may still be necessary to claim a rebate or comply with reporting requirements.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>Myth 2: Capital Gains Become Tax-Free<\/strong><\/span><\/p>\n<ul>\n<li>Reality: Special-rate capital gains can continue to attract tax.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>Myth 3: Crypto Income Gets Covered by Rebate<\/strong><\/span><\/p>\n<ul>\n<li>Reality: VDA income is taxed separately at 30%.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>Myth 4: Lottery Winnings Are Tax-Free Due to Rebate<\/strong><\/span><\/p>\n<ul>\n<li>Reality: Lottery and similar winnings remain taxable at special rates<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaway\"><\/span><span style=\"color: #000080;\"><strong>Key Takeaway<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Zero tax liability up to INR 12.75 lakh applies primarily to regular salary income under the new tax regime so &#8220;income up to INR 12.75 lakh is tax-free&#8221; applies primarily to salary income under the new tax regime, subject to conditions and proper income tax return filing. Filing ITR is necessary to claim the rebate; Section 87A does not generally apply to income taxed at special rates. Tax may still be payable on capital gains, crypto (VDA) income, lottery winnings, and horse racing and similar speculative income. Before assuming that no tax is payable, taxpayers should carefully evaluate the nature of their income, not just the amount.<\/p>\n<p><span style=\"color: #000080;\"><strong>Simple Rule :<\/strong><\/span> Low income does not always mean zero tax. Special-rate incomes such as capital gains, crypto profits, and lottery winnings can still create tax liability, making Income Tax Return filing essential for AY 2026-27<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Salary up to INR 12.75 Lakh? You May Still Have to Pay Tax in FY 2025-26 (AY 2026-27) Many salaried taxpayers believe that income up to INR 12.75 lakh is completely tax-free under the new tax regime. While this is broadly true for pure salary income, there are important exceptions that can still create a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[10480],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32193"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=32193"}],"version-history":[{"count":4,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32193\/revisions"}],"predecessor-version":[{"id":32196,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32193\/revisions\/32196"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=32193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=32193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=32193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}