Income Tax Rebate Under Section 87A
Income Tax Rebate Under Section 87A
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BIG TAX UPDATE! The Income Tax Bill 2025, introduced to replace the old 1961 Act, was officially withdrawn on August 8. But don’t worry – a revised version is coming on August 11, based on expert committee recommendations. What’s changing? 🔸Simpler language 🔸Obsolete rules removed 🔸NO changes in tax rates! And yes, there are no changes related to Zero tax upto 12 lakh income rule (tax benefit because of rebate under section 87A). [zero tax upto 12 lakh, new income tax bill, income tax bill wi
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Income tax relief only to those earning up to Rs 5 lakh, here is what others have to pay
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Section 87A Rebate is not available on Income Tax Portal | Rebate u/s 87A | Income Tax Update Welcome back to our channel! In this video, we discuss a crucial update regarding the Section 87A rebate that is not currently available on the Income Tax portal. Whether you're a taxpayer or a financial advisor, it's essential to stay informed about the latest changes and updates in the tax system. 🔍 Topics Covered: What is Section 87A Rebate? Why is the Section 87A Rebate not available on the Income
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Rebate u/s 87A is allowed for short term capital gains as per Income tax act. But while filing ITR it is not considered in ITR schema on portal. If you gain is of significant amount you should claim it and go for litigation. If it is of negligible amount you can avoid it. You have to look for your opportunity cost (simple). Whether litigation is worth it or not. [itr, income tax return, litigation, cost, stcg, short term capital gain, rebate, rebate u/s 87A] #itr #incometaxreturn #litigation #co
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