Introduction When I wrote an article on this topic last year, for the very first time, I stated that rebate was not being allowed from 5th June 2024. After ...

The decision in the case of Miss Jayshreeben could impact individuals whose income falls below the ₹7 lakh threshold but ...

Chartered Accountant Abhas Halakhandi, writing on X (formerly known as Twitter) has recently brought attention to a concern ...

Section 87A rebate allows an salaried individual to not pay any tax for income up to Rs 12.75 lakh but this rebate is not ...

The Finance Act, 2025, clarified that the rebate under Section 87A is not available for income taxed at special rates.

In a significant win for taxpayers, the ITAT Ahmedabad has ruled that Section 87A tax rebate is applicable on short-term ...

The ITAT held that the assessee, being a resident individual with total income of less than Rs.7 lakh under Section 115BAC (1A), was entitled to rebate under Section 87A even though the tax arose on ...

For example, if a senior citizen has an income of Rs 11 lakh, they won’t have to pay income tax thanks to the Section 87A tax rebate under the new tax regime for FY 2025-26.

The government has amended the Income Tax Act, 1961, to reinstate the Rs 75,000 standard deduction for salaried individuals ...

With the due date for filing income tax return (ITR) approaching, taxpayers are in a state of confusion regarding the rebate under Section 87A of the Income Tax Act. One of the main reasons for this ...

Some banks are continuing to offer up to 8.4% interest on fixed deposits (FDs) for senior citizens (age 60 years and above) ...

With income up to Rs 12 lakh now eligible for a rebate under Section 87A, many senior citizens may end up paying zero tax under the new regime in FY2025-26. Interest income from fixed deposits and ...