Those earning below Rs 7 lakh can claim Section 87A tax rebate for STCG income under new tax regime, rules ITAT Ahmedabad ...

Ahmedabad has once again sparked debate on whether small taxpayers can claim rebate under Section 87A if they have short-term ...

Introduction When I wrote an article on this topic last year, for the very first time, I stated that rebate was not being allowed from 5th June 2024. After ...

Chartered Accountants have raised concerns about the denial of Section 87A tax rebates to eligible taxpayers with special ...

The decision in the case of Miss Jayshreeben could impact individuals whose income falls below the ₹7 lakh threshold but ...

The ITAT held that the assessee, being a resident individual with total income of less than Rs.7 lakh under Section 115BAC (1A), was entitled to rebate under Section 87A even though the tax arose on ...

The Finance Act, 2025, clarified that the rebate under Section 87A is not available for income taxed at special rates.

Those with taxable income of Rs 12.75 lakh or less can get a tax rebate of up to Rs 60,000, bringing their tax down to zero.

Even with income below Rs 7 lakh, capital gains must be reported in ITR. Know when to file ITR-1, ITR-2 or ITR-3, updated tax ...

There has been certain ambiguity on whether small taxpayers' special rate income, especially short-term capital gains tax is going to be eligible for the rebate under section 87A under the new tax ...

The government has amended the Income Tax Act, 1961, to reinstate the Rs 75,000 standard deduction for salaried individuals ...

For example, if a senior citizen has an income of Rs 11 lakh, they won’t have to pay income tax thanks to the Section 87A tax rebate under the new tax regime for FY 2025-26.