Summary: The Income Tax Department has begun processing tax returns with unexpected demands, particularly for those with capital gains income, due to the disallowance of the Section 87A rebate. This ...

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The department stated that the updated utilities for ITR forms 2 and 3, including the option to claim the Section 87A rebate, would be made available shortly. However, it’s important to note that ...

With updates to ITR forms underway, eligible taxpayers can claim Section 87A rebates through revised filings by the extended deadline of January 15, 2025. Listen to Story Income Tax department allows ...

Income Tax Return Filing: The income tax department is now allowing eligible taxpayers to claim tax rebates under its section 87A for the financial year 2023-24. The decision comes after the ...

The Income Tax Department has introduced significant relief for taxpayers eligible for the Section 87A rebate for FY 2023-24 who were previously unable to claim it. Announced late on December 31 ...

The Income-Tax (I-T) Department is allowing taxpayers who qualify for the section 87A tax rebate for FY24 to now claim it in the updated Income-Tax Return (ITR) forms — ITR-2 and ITR-3 ...

ITR filing: The Income Tax Department has provided a significant update by allowing taxpayers who qualify for the section 87A tax rebate for the financial year 2023-24 to claim it now. In a ...

The necessary back end software related changes in the online ITR form will be made shortly to give effect to this (87A rebate claim). Under section 87A of the Income Tax Act, 1961, eligible taxpayers ...

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This extension is to ensure that all taxpayers eligible for the rebate under Section 87A are afforded the opportunity to exercise their statutory rights without facing procedural impediments." The ...