NEW INCOME TAX BILL
- NEWS Desk Global
- 1 hour ago
- 1 min read
A one-time tax relief proposed under the new Income Tax Bill, 2025 could significantly reduce capital gains tax liabilities for many individual taxpayers. The new Income Tax bill allows long-term capital losses (LTCL) incurred up to March 31, 2026, to be set off against any short-term capital gains (STCG) from tax year 2026–27 onwards. This marks a key departure from the current provisions under the Income Tax Act, 1961, which only allow LTCL to be set off against long-term capital gains (LTCG).
The proposed change, found in Clause 536(n) of the new bill, enables broader capital gains tax planning and faster loss absorption.