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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.
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 ...
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.
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In a significant win for taxpayers, the ITAT Ahmedabad has ruled that Section 87A tax rebate is applicable on short-term ...
Chartered Accountant Abhas Halakhandi, writing on X (formerly known as Twitter) has recently brought attention to a concern ...
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has stated that rebate under section 87A available on short-term ...
Any gains from capital assets will attract LTCG and STCG taxes at a special rate irrespective of a salaried taxpayer’s income ...
With income up to Rs 12 lakh now eligible for a rebate under Section 87A, many senior citizens may end up paying zero tax under the new regime in FY2025-26. Interest income from fixed deposits and ...