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 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: Approval for condonation of delay helps this taxpayer save over ₹3.42 lakh
The Income Tax Department can condone a delay in filing an ITR after the deadline lapses. If the department gives the nod, ...
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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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 ...
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ITR filing: Submit these investment proofs to claim deductions and save on TDS
Submitting tax-saving proofs on time not only reduces TDS but also streamlines your tax compliance. While the new tax regime ...
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Budget 2025: Easier ITR filing and tax dispute reduction expected, says report
The upcoming Union Budget 2025-26 is poised to introduce significant changes to India's tax landscape, aiming to simplify ...
Income Tax Deadline! Last one week to file revised, belated return
Taxpayers must note that the deadline for filing a belated income tax return or submitting a revised return for the ...
Union Budget 2025: Centre may take steps to simplify ITR filing process, says report
According to a report, Union Finance Minister Nirmala Sitharaman is set to announce an overhaul of the Income Tax Act of 1961 ...
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 section 87A, even if their income is below the basic exemption limit, as the ...