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 ...

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 ...

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

At present, small tax-payers with special rate income such as short-term capital gains are unable to claim the rebate under section 87A, even if their income is below the basic exemption limit, as the ...

To claim the Section 87A rebate, taxpayers must manually update the tax rebate column in the ITR Excel utility. After editing ...

With updates to ITR forms underway, eligible taxpayers can claim Section 87A rebates through revised filings by the extended ...

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.

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

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

The CBDT has extended the deadline for filing income tax returns for residents to January 15, 2025, from December 31, 2024, ...