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 ...

"Taxpayers can currently only file belated or revised returns, excluding new filings that incorporate the 87A rebate. 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 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Taxpayers remain unable to claim the Section 87A rebate on STCG income due to outdated ITR processing logic, even after recent updates to filing forms by the Income Tax Department.

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

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 ...

Taxpayers now have the option to submit rectification requests online, even if their Income Tax Returns (ITRs) are under review by the Assessing Officer (AO).

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.