Markets: A Rigorous Course
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M00 · Problem 13 ★★ Check

Tax on a mixed year

In tax year 2026-27 a resident individual has salary income of ₹12,00,000 (after the standard deduction), STCG of ₹60,000, LTCG of ₹3,10,000 on listed shares, an intraday profit of ₹25,000 and an F&O loss of ₹1,40,000. (a) Apply the set-off rules of 0.7.3, setting the remaining F&O loss off against STCG before LTCG, and compute the tax before cess. (b) Repeat with the remaining F&O loss set off against LTCG first. Which order is better here, and why? (c) Is the ₹12 lakh rebate available? Is any loss carried forward? Which ITR form applies?

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Commas, ₹, % and 1e-3 notation are accepted.

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