Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch
Eligible taxpayers who have income up to Rs 5 lakh/7 lakh can claim tax rebate under section 87A up to Rs 12,500/25,000. The ...
ITR FY2023-24: I-T dept updates ITR forms to claim 87A rebates; check steps how to go about the process
The Income Tax Department has released revised Excel utilities for ITR Forms 2 and 3. Additionally, the department has ...
Income Tax dept updates ITR Forms 2 and 3 for claiming 87A tax rebate
It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...
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Throwing light on income tax rebate under Section 87A
The quantum of maximum rebate under Section 87A is ₹12,500. So, in case the total tax before cess is less than ₹12,500 for an ...
Wait until I-T portal glitch is resolved before revising returns, CAs tell tax-payers
At present, small tax-payers with special rate income such as short-term capital gains are unable to claim the rebate under ...
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ITR filing for FY23-24: How to claim section 87A rebate now with updated forms
To claim the Section 87A rebate, taxpayers must manually update the tax rebate column in the ITR Excel utility. After editing ...
ITR forms have been updated but Section 87A tax rebate is still being denied
"Taxpayers can currently only file belated or revised returns, excluding new filings that incorporate the 87A rebate. The ...
ITR filing: Taxpayers can now claim rebate under Section 87A; updated ITR forms 2, 3 to be available shortly
Taxpayers should note that these changes will only be implemented on the back end for the ITR-2 and ITR-3 forms.
Good News For Taxpayers! Now, You Can Claim Tax Rebate Under Section 87A; Eligibility, Benefits, How To Claim?
The decision comes after the Bombay High Court directed the IT department to extend the due date for claiming the benefit.
Bombay HC Extends ITR Filing Deadline: Check New Dates Here
"This extension is to ensure that all taxpayers are eligible for the rebate under Section 87A.", the court said.
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Income tax returns: Bombay High Court asks CBDT to extend deadline for some taxpayers
The court observed that recent changes to the Income Tax Department’s utility software prevented eligible taxpayers from ...
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How To Claim Income Tax Rebate Under Section 87A?
Section 87A, in its entirety, was proposed in the Finance Bill of 2013 to provide a tax relief to individual taxpayers who fall under the tax slab of 10%. Since then, the act has undergone ...