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

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 ...

There has been certain ambiguity on whether small taxpayers' special rate income, especially short-term capital gains tax is going to be eligible for the rebate under section 87A under the new tax ...

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

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

A new version of the Income Tax Bill, 2025 was presented in India’s Parliament on August 11, 2025, just three days after the ...

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

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 ...

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 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 ...

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

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has stated that rebate under section 87A available on short-term ...