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 ...

Budget 2025 aims to simplify tax filing, reduce disputes, and foster a transparent, taxpayer-friendly system. The upcoming Union Budget 2025-26 is poised to introduce significant changes to India's ...

India's government is set to simplify income tax filing rules to reduce disputes, streamline processes, and make tax ...

According to a report, Union Finance Minister Nirmala Sitharaman is set to announce an overhaul of the Income Tax Act of 1961 ...

A massive wildfire in Southern California has reached residential areas of a Los Angeles suburb, sparking panic among the ...

Not filing an ITR on time can have numerous consequences, from penal interest and late fees to possible jail time. Meanwhile, if you file your return within the period for filing a belated return and ...

In the matter abovementioned ITAT deleted addition made on account of undisclosed cash deposits during demonetization period after observing that assessee has substantiate means of income for ...

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 ...

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

Submitting tax-saving proofs on time not only reduces TDS but also streamlines your tax compliance. While the new tax regime ...

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