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

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

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

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

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 ...

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) ...

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.

Salaried taxpayers can get up to Rs 75,000 standard deduction on their salary under Section 87A of the Income Tax Act, 1961.

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 ...