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

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 ...

Any gains from capital assets will attract LTCG and STCG taxes at a special rate irrespective of a salaried taxpayer’s income ...

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

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 ...

Several chartered accountants (CAs) across India have raised concerns over the Section 87A income tax rebate not being ...

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

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

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