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

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 ...

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 ...

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 ...

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.

For example, if a senior citizen has an income of Rs 11 lakh, they won’t have to pay income tax thanks to the Section 87A tax rebate under the new tax regime for FY 2025-26.

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

The Section 87A rebate is meant to make life easier for people with lower incomes by reducing or eliminating their tax burden ...

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

Salaried taxpayers can get up to Rs 75,000 standard deduction on their salary under Section 87A of the Income Tax Act, 1961.

The income tax department has extended the last date for filing income tax returns for FY 2024-25 till September 15, 2025. Here are the slab rates applicable to the ongoing ITR.