Chartered Accountant Abhas Halakhandi, writing on X (formerly known as Twitter) has recently brought attention to a concern ...

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

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 ...

The ITAT held that the assessee, being a resident individual with total income of less than Rs.7 lakh under Section 115BAC (1A), was entitled to rebate under Section 87A even though the tax arose on ...

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.

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

There has been certain ambiguity on whether small taxpayers' special rate income, especially short-term capital gains tax is going to be eligible for the rebate under section 87A under the new tax ...

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

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 ...

Some banks are continuing to offer up to 8.4% interest on fixed deposits (FDs) for senior citizens (age 60 years and above) ...

The new tax regime for the financial year (FY 25-26) provides an opportunity for a salaried-class individual to pay 0 tax on up to Rs 12,75,000 income. But you may make your Rs 18,50,000 salaried ...