Eligible taxpayers who have income up to Rs 5 lakh/7 lakh can claim tax rebate under section 87A up to Rs 12,500/25,000. The ...

"Taxpayers can currently only file belated or revised returns, excluding new filings that incorporate the 87A rebate. The ...

It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...

The quantum of maximum rebate under Section 87A is ₹12,500. So, in case the total tax before cess is less than ₹12,500 for an ...

The Income Tax Department has released revised Excel utilities for ITR Forms 2 and 3. Additionally, the department has ...

To claim the Section 87A rebate, taxpayers must manually update the tax rebate column in the ITR Excel utility. After editing ...

India's Budget 2025 may potentially abolish the old tax regime. The new tax regime, default since 2020-21, offers simplified, ...

Taxpayers remain unable to claim the Section 87A rebate on STCG income due to outdated ITR processing logic, even after recent updates to filing forms by the Income Tax Department.

At present, small tax-payers with special rate income such as short-term capital gains are unable to claim the rebate under section 87A, even if their income is below the basic exemption limit, as the ...

The mutual fund industry is eagerly anticipating the return of tax relief for debt funds, specifically the potential ...