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 ...

The Income Tax Department has released revised Excel utilities for ITR Forms 2 and 3. Additionally, the department has ...

It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...

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 ...

To claim the Section 87A rebate, taxpayers must manually update the tax rebate column in the ITR Excel utility. After editing ...

At present, small tax-payers with special rate income such as short-term capital gains are unable to claim the rebate under ...

"Taxpayers can currently only file belated or revised returns, excluding new filings that incorporate the 87A rebate. The ...

The Income Tax Department is allowing eligible taxpayers to claim the section 87A tax rebate in updated ITR forms. This ...

With updates to ITR forms underway, eligible taxpayers can claim Section 87A rebates through revised filings by the extended ...

The decision comes after the Bombay High Court directed the IT department to extend the due date for claiming the benefit.

Even if your return has been processed and you have received a refund or paid any additional tax that may have been demanded, you can revise your return.

Taxpayers should note that these changes will only be implemented on the back end for the ITR-2 and ITR-3 forms.