Pease let me know whether the exemption for LTCG is Rs 3 lakhs for senior citizens for FY2024-25?
Ans: There is no specific EXEMPTION for SENIOR CITIZENS, for Long Term Capital Gains, in any financial year.
However, if they don't have any other income from any other source, then LTCG gets adjusted, against this basic exemption limit of Rs.3,00,000.00 for Senior Citizens & Rs.5,00,000.00 for Super Senior Citizens.
Most welcome for any further clarifications. Thanks.