Income Tax from interest & capital gain

Income Tax Act 1961 Income from Capital Gains
1

Fy 2024-25 HUF account
my income from bank interest Rs 260000/- &
short term capital gain from Stocks Rs 300000/-
Long term capital gain from Stock Rs 100000/-
Calculate tax under old & new regime

2

  • Old Tax Regime Total Tax: Rs 62,920

  • New Tax Regime Total Tax: Rs 62,400

The New Tax Regime results in a minor tax savings of Rs 520 compared to the old regime for this specific income composition.

3

Interest income and capital gains are taxable under different income tax provisions, depending on the type and amount of income earned.
Proper reporting and applicable deductions or exemptions can help calculate the correct tax liability.

4

For an HUF, these amounts should not simply be added together and taxed at one common rate. Bank interest is generally taxable as normal income, while capital gains from shares are subject to the specific capital-gains provisions.

For FY 2024-25, the exact tax would depend on whether the equity STCG/LTCG qualify for the applicable sections, the transaction dates, and whether the HUF is opting for the old or new regime.

So I would suggest checking the purchase/sale dates and the nature of the shares first. Once those details are confirmed, the tax can be calculated correctly rather than relying on a single combined figure.

Also make sure the interest and capital gains are properly reported in the HUF’s return, even if TDS has already been deducted.