Answers to FAQs on Budget 2025 Taxation: Capital Gains, Crypto, & House Property

Welcome to our special video on FAQs regarding Budget 2025, where we'll be diving into key questions on income tax, capital gains, crypto taxation, and income from house properties - so grab your tea and let's get started!

Here are the 22 clean bullet points summarizing the video:
Budget 2025 and Income Tax
1. The video discusses FAQs regarding budget 2025, specifically focusing on taxation aspects.
2. The first question is what if income marginally exceeds ₹12 lakhs?
3. If someone's income is ₹12 lakhs, tax calculation will be as follows: ₹0 to ₹4 lakhs = 0%, ₹4 to ₹8 lakhs = 5% (₹20,000), and ₹8 to ₹12 lakhs = 10% (₹40,000).
4. If a person earns ₹12 lakh 10,000 rupees, the additional income will be taxed at 15% (₹1,500) for an additional tax liability of ₹61,500.
5. The concept of marginal relief applies when the tax amount exceeds the additional income.
6. In this scenario, the person will pay only ₹10,000 and not the entire ₹61,500 in taxes.
7. This is because the government provides a relief from paying the higher tax amount.
Short-Term Capital Gain on Sale of Equity Shares
8. There are two types of capital gains: short-term (20%) and long-term (12.5%).
9. The basic exemption limit for listed equity shares is ₹12 lakhs, with a rebate.
10. For short-term capital gain, the tax rate is 20%, not applicable to the first ₹4 lakh.
11. If Chandu earns ₹4 lakh from short-term capital gain, his tax liability will be ₹0.
Taxation on Virtual Digital Assets (Cryptos)
12. VDAs refer to virtual digital assets, such as cryptos.
13. For taxation on VDAs, the rate is flat 30% plus education CESS (4%).
14. Losses cannot be set off against gains for VDA taxation.
Income from House Properties
15. There is a change in income from house properties taxation in budget 2025.
16. Two house properties can now be declared as self-occupied, without paying tax.
17. This applies to the current financial year (24-25) and assessment year (25-26).
18. Only two houses can be claimed as self-occupied; additional houses will require tax payment.
19. The video discusses AI training by Growth School, which is free for subscribers.
20. The training covers salary hike strategies, job hunting, data analysis, presentation skills, and more.
21. The link to the training is available in the description and pinned comments.
22. CA Rachana Ranade welcomes viewers to the video and encourages them to share their questions and topics for future videos.

Source: CA Rachana Phadke Ranade via YouTube

❓ What do you think? What are your thoughts on the ideas shared in this video? Feel free to share your thoughts in the comments!