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

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 ...

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 ...

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

Taxpayers should note that these changes will only be implemented on the back end for the ITR-2 and ITR-3 forms.

The decision comes after the Bombay High Court directed the IT department to extend the due date for claiming the benefit.

Interim Relief for Claiming 87A Rebate AY 2024-25 1. Hon’ble Bombay High Court vide interim order dated 20/12/2024 directed ...

The Bombay High Court has asked the Central Board of Direct Taxes (CBDT) to extend the deadline for filing revised and ...

"This extension is to ensure that all taxpayers are eligible for the rebate under Section 87A.", the court said.

Rebate under 87A is a very useful section of the income tax law in India. Knowing about it can help you save on your taxes. Never hesitate to learn To understand the basics of the income tax law ...

The Income-Tax (I-T) Department is allowing taxpayers who qualify for the section 87A tax rebate for FY24 to now claim it in the updated Income-Tax Return (ITR) forms — ITR-2 and ITR-3 ...