Tax Rebate under Section 87A is given to reduce your taxable income to nil. It is a better option to give tax relief through ...

What should eligible taxpayers do in such a situation? File ITR on January 15, 2025 to claim 87A tax rebate? According to chartered accountant Bimal Jain, founder, A2Z Taxcorp LLP, “I would ...

Bombay High Court finds Income Tax Department's restriction on rebate claims for certain income types to be unfair and ...

The section 87A tax rebate issue is of special interest and debate among taxpayers. The issue became so contentious that multiple court cases were filed against the tax department’s decision to ...

The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

With only two days to go before the deadline to file revised income tax return (ITR) for FY 2023-24 expires, taxpayers can claim tax rebate under section 87A. Notably, the income tax department ...

Here are the income tax slabs, rates, and deductions announced by Finance Minister Nirmala Sitharaman in the Union Budget ...

At present, the ITR utility on the income tax e-filing portal ... She's qualified for a tax rebate under section 87A under the new tax regime. Had she filed her return before July 5, 2024, when ...

The IT Department now updated the Excel utilities for ITR Forms 2 and 3 to utilise the option to update tax rebates under section 87A for Financial Year (FY) 2023-24 or Assessment Year (AY ...

Can you file ITR-U if your total income is below ₹5 lakh and have claimed rebate under section 87A? Yes, you can file the updated return but you will be liable for the late filing fees.