Income Tax Slab & Rate for FY 2025-26

[Ekavya]

My expectations regarding tax slab from this budget.

New Tax Regime:
0-25 Lakh: 0%
25-50 Lakh: 10%
50 Lacs and onwards - 20%

Best budget to not loot people like us - middle/upper middle class.

0-10 Lakh 10%
10-20 Lakh 20%
20-30 Lakh 30%

...
...


90-100 Lakh 100%

 

[credit_saver]

Can short-term capital gains from a debt mutual fund be set off against short-term capital losses from an equity mutual fund?

For example, let's say I have already realized a gain of ₹20,000 from my debt mutual fund. Now, some of my equity mutual funds are in loss, amounting to ₹15,000. In this case, should I pay tax on ₹20,000 or only on ₹5,000?

 

[2025]

Can short-term capital gains from a debt mutual fund be set off against short-term capital losses from an equity mutual fund?

For example, let's say I have already realized a gain of ₹20,000 from my debt mutual fund. Now, some of my equity mutual funds are in loss, amounting to ₹15,000. In this case, should I pay tax on ₹20,000 or only on ₹5,000?

Yes.
1. Short CG loss can be set off by short CG gain. (your question)
2. Long CG loss can only be set off against long CG gain.
3. Long CG gain can also be used to set off short CG loss.

Intra-head adjustments are also possible in a specific scenario (not always).

Please refer: https://incometaxindia.gov.in/Pages/faqs.aspx?k=FAQs+on+Set+Off+and+Carry+Forward+of+Losses