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

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

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 ...

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 Finance Act, 2025, clarified that the rebate under Section 87A is not available for income taxed at special rates.

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.

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

The Bombay High Court has paved the way for eligible taxpayers to claim the rebate under Section 87A of the Income Tax Act, 1961, for the assessment year 2024-25 and beyond. A bench of Justices MS ...

The new rule will benefit those senior citizens whose tax liability will be Nil after allowing rebate under Section 87A. “Those who have interest income as the only source of income will stand ...