The Economic Times

Pay Rs 62,400 extra income tax if you are using tax harvesting with Rs 12.75 lakh salary; Heres what to do

Salaried employees may face an additional Rs 62,400 in income tax if they engage in tax harvesting with a Rs 12.75 lakh salary. This occurs because long-term capital gains, though exempt up to Rs 1.25 lakh, push total income above the Rs 12 lakh threshold, disqualifying them from the Section 87A tax rebate.