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 ...

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.

She believes that the complications would continue until both the tax regimes (old and new) are merged. She also recommends ...