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Vivek Lala  |305 Answers  |Ask -

Tax, MF Expert - Answered on Jan 23, 2024

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more
Ashley Question by Ashley on Jan 11, 2024Hindi
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Hello Sir, I am currently earning a CTC of 7.20 Lacs PA, and I have opted for the new tax regime, I am told under this new regime for a CTC of 7.20 Lacs PA the tax would be ZERO, I wanted to know if this is correct and also i wanted to sell some mutual funds wherein the capital gains will be Rs 95000-98000, since this too is exempt as per the IT act, will I have to pay tax once this amount of Rs 95-98k is added to the total earnings, please clarify, Thanks in advance.

Ans: Yes there is no tax with your CTC amount
Any gains on equity MF till 1L in one particular FY is tax free, so no tax liability, but none the less you should file your ITR on time
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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