Capital Gains Tax FY 2025-26: Stocks, MFs, Property, Crypto

The Budget 2024 fundamentally reshaped capital gains taxation in India. If you bought, sold, or even just held stocks, mutual funds, property, or crypto during FY 2025-26 — this guide is for you.

Quick refresher: STCG vs LTCG

Capital gains tax depends on the holding period:

• Short-Term Capital Gains (STCG): Asset held for less than the threshold period
• Long-Term Capital Gains (LTCG): Asset held for the threshold period or longer

The threshold varies by asset type. Here's the post-Budget 2024 table that applies for FY 2025-26:

Capital gains tax rates · FY 2025-26

Asset Class	LTCG Threshold	STCG Rate	LTCG Rate
Equity (listed shares)	12 months	20%	12.5% (above ₹1.25L exempt)
Equity Mutual Funds	12 months	20%	12.5% (above ₹1.25L exempt)
Debt Mutual Funds (post Apr 2023)	N/A	Slab rate	Slab rate (no LTCG)
Debt Mutual Funds (pre Apr 2023)	24 months	Slab rate	12.5% (no indexation)
Real Estate	24 months	Slab rate	12.5% (no indexation) OR 20% (with indexation, only for pre-2024 properties)
Gold / Silver ETFs	12 months	20%	12.5%
Unlisted shares	24 months	Slab rate	12.5%
Crypto / VDA	N/A	30% flat	30% flat (no distinction)

Three big changes to know

1. Indexation removal on debt funds (post-April 2023)

Mutual funds (other than equity-oriented) bought on or after 1 April 2023 are now always taxed at slab rate, with no LTCG distinction and no indexation benefit. This effectively ended the tax advantage debt funds had over FDs.

2. Real estate: 12.5% without indexation OR 20% with indexation

For properties bought before 23 July 2024 and sold in FY 2025-26, you can choose between:

• New regime: 12.5% on full gain (no indexation)
• Old regime: 20% on indexed gain (cost increased by inflation index)

For properties bought on/after 23 July 2024 — only the 12.5% (no indexation) option applies.

Calculate both — use whichever results in lower tax.

3. STCG on equity raised from 15% to 20%

If you traded equity stocks or equity mutual funds in less than 12 months — your short-term gains are now taxed at 20% (up from 15%). This is a meaningful hike for active traders.

How to report capital gains in ITR

Capital gains are reported in Schedule CG of ITR-2 (no business income) or ITR-3 (with business income). You'll need:

• For listed equity/MF: Broker P&L statement (Zerodha Console, Groww report, etc.)
• For property: Sale deed, purchase deed, registration receipts, capital improvement bills
• For crypto: Exchange transaction reports from CoinDCX, WazirX, Binance, ZebPay, etc.

Common mistakes that cause notices

• Missing capital gains in AIS — IT Dept now receives broker data via AIS. If your ITR doesn't match AIS, you'll get a 143(1)(a) notice.
• Reporting MF SIP redemptions incorrectly — each SIP unit has its own purchase date and price. Most people miscalculate STCG vs LTCG split.
• Forgetting buyback gains — share buyback proceeds are taxable (the buyback tax was shifted to shareholders from FY 2024-25)
• Crypto under capital gains — crypto is NOT capital gains. It goes under "Income from other sources" with Section 115BBH 30% flat tax.
• Set-off errors — STCL cannot set off LTCG. LTCL cannot set off STCG. Many DIY filers get this wrong.

Crypto / VDA — its own beast

Crypto income is taxed differently from regular capital gains:

• 30% flat tax on net gains (no deductions except cost of acquisition)
• No setoff of crypto losses against any other income
• No carry-forward of crypto losses
• 1% TDS on every transaction above ₹10,000 (Section 194S) — your TDS credit needs reconciliation
• Reported under Schedule VDA in ITR-2 or ITR-3

For most retail investors with crypto, broker statements alone aren't sufficient — you need to reconcile across multiple exchanges, account for wallet transfers, and handle stake/airdrop rewards correctly. Get a CA who specifically knows crypto tax — it's a niche.

Should you file capital gains yourself?

If you have a single listed equity holding and one redemption — sure, ITR-2 is manageable.

If you have multi-asset capital gains across stocks, MFs, F&O, crypto, and property — get professional help. The risk of mis-reporting is high, and a single AIS mismatch can trigger a full scrutiny.

At ETAXCART, our Capital Gain + Salary + HP plan (₹2,099) covers stocks, MFs, multiple properties, rental income. For crypto, we have a dedicated plan (₹4,399). All CA-led, all filed in 24-48 hours.