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

Those earning below Rs 7 lakh can claim Section 87A tax rebate for STCG income under new tax regime, rules ITAT Ahmedabad ...

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

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 Section 87A rebate is meant to make life easier for people with lower incomes by reducing or eliminating their tax burden ...

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

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.

Those with taxable income of Rs 12.75 lakh or less can get a tax rebate of up to Rs 60,000, bringing their tax down to zero.

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

The new tax regime for the financial year (FY 25-26) provides an opportunity for a salaried-class individual to pay 0 tax on up to Rs 12,75,000 income. But you may make your Rs 18,50,000 salaried ...