Section 87A rebate allows an salaried individual to not pay any tax for income up to Rs 12.75 lakh but this rebate is not ...

CAs highlight no income tax rebate under Section 87A despite income below Rs 7 Lakh under new tax regime in this situation ...

In a significant win for taxpayers, the ITAT Ahmedabad has ruled that Section 87A tax rebate is applicable on short-term ...

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

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 differ over whether small taxpayers will be able to obtain section 87A rebate on their STCG income for FY 2024-25 (AY 2025-26) based on the Ahmedabad tax tribunal’s recent order.

Any gains from capital assets will attract LTCG and STCG taxes at a special rate irrespective of a salaried taxpayer’s income ...

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has stated that rebate under section 87A available on short-term ...

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Several chartered accountants (CAs) across India have raised concerns over the Section 87A income tax rebate not being ...

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.

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