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 ...

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

The ITR filing utilites for ITR-2 and ITR-3 has been updated on January 4, 2025 however, the JSON schema is not yet updated ...

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

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

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

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

then that amount will be the rebate under section 87A. This rebate is applied to the total tax before adding the education cess of 4% Following are a few examples of the 87A rebate allowed to ...

Even if your return has been processed and you have received a refund or paid any additional tax that may have been demanded, you can revise your return.

The court observed that recent changes to the Income Tax Department’s utility software prevented eligible taxpayers from ...