Section 87A rebate allows resident individuals with income under specified limits to reduce their tax liability to zero, clarifying the “no tax” ...
Explains how Section 87A rebate applies only below fixed income limits, while the standard deduction continues to reduce ...
Experts clarified that since the person’s normal income stays below the ₹12-lakh limit, they fully qualify for the ₹60,000 ...
For determining eligibility for Section 87A under the new regime, only normal income is considered and income taxed at ...
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From Rs 21,350 tax demand to zero tax; How a taxpayer won Section 87A case in ITAT Bengaluru
In a big win for a taxpayer, the vice president of the Income Tax Appellate Tribunal (ITAT), Bengaluru bench has allowed the assessee, T. Jakkarajua, to. claim Section 87A tax rebate even though it ...
Section 87A tax rebate does not apply to special income like short term capital gains (STCG) under the new tax regime. So even if your salary income is below Rs 12.75 lakh, your entire STCG will be ...
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