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

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has stated that rebate under section 87A available on 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 Accountant Abhas Halakhandi, writing on X (formerly known as Twitter) has recently brought attention to a concern ...

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 ...

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

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

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.

If you recall the section 87A tax rebate controversy began when the tax department made changes to its ITR software in July last year. This resulted in several taxpayers not being able to claim ...

The maximum rebate under section 87A has been hiked to Rs 60,000 from the earlier Rs 25,000 under the new tax regime. The belated ITR deadline was extended to allow this.

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