Amendments made vide the Finance (No. 2) Act of 2024, Finance (No. 1) Act of 2024 and Finance Act of 2023 in respect of rates ...
As per Section 87A of the Income Tax Act, a tax rebate is provided to individuals earning below a certain threshold to reduce their total tax liability. This rebate is claimed from the overall tax ...
As the ink dries on the Union Budget announcements ... Forget the slabs for a second. Let’s understand the 87A rebate first. This rebate is like a 100% discount coupon on your food bill — but only up ...
7,00,000 to Rs. 12,00,000 and the limit of rebate in clause (a) of first proviso to section 87A from Rs. 25,000 to Rs. 60,000. (ii) rationalise the first proviso to section 87A by inserting a new ...
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No income tax for up to Rs 12 lakh income under the new tax regime as Section 87A tax rebate hiked in Budget 2025The finance minister has announced a hike in tax rebate under Section 87A. Due to this hike, resident individuals having net taxable income up to Rs 12 lakh will pay zero tax. Salaried individuals ...
Final judgement on 87A tax rebate claim: The 67 page Bombay High Court judgement says yes taxpayers should be given the option to file their ITR with Section 87A rebate claim and the income tax ...
The Bombay High Court on Friday cleared the path for eligible taxpayers to claim the rebate under Section 87A of the Income Tax Act, 1961 for the assessment year 2024-25 and beyond, months after a ...
Mumbai: The Bombay High Court has paved the way for eligible taxpayers to claim the rebate under Section 87A of the Income Tax Act, 1961, for the assessment year 2024-25 and beyond. A bench of ...
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