Income Tax Deadline! With last two days to go, you can you claim 87A rebate with new ITR forms; check details
14 hours, 40 minutes ago

Income Tax Deadline! With last two days to go, you can you claim 87A rebate with new ITR forms; check details

Live Mint  

With only two days to go before the deadline to file revised income tax return for FY 2023-24 expires, taxpayers can claim tax rebate under section 87A. Notably, the income tax department recently released excel utilities for ITR forms ITR-2 and ITR3 to exercise the option to claim rebate u/s 87A. This resulted in several taxpayers not being able to claim section 87A tax rebate for special income when filing income tax returns such as for short-term capital gains on equity shares. Following this, Bombay High Court gave an interim relief by ordering the income tax department to postpone the revised and belated ITR filing deadline to January 15, 2025 so that taxpayers can claim 87A tax rebate.

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History of this topic

ITR filing: Technical glitch keeps Section 87A rebate unavailable for taxpayers
1 week, 1 day ago

ITR filing: Technical glitch keeps Section 87A rebate unavailable for taxpayers

India Today  

Despite recent updates to ITR-2 and ITR-3 forms by the Income Tax Department on January 4, 2025, taxpayers are still unable to claim the Section 87A tax rebate on short-term capital gains. The delay in updating the ITR processing software has left many eligible taxpayers struggling to claim their rightful rebates, with the January 15, 2025, deadline for filing revised …

Missed income tax section 87A rebate? Here's your chance to claim it for FY 2023-24
Trending News
1 week, 5 days ago

Missed income tax section 87A rebate? Here's your chance to claim it for FY 2023-24

India Today  

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, 2024, via the ITR e-filing portal, the department confirmed that eligible taxpayers would soon be able to file revised or belated ITRs through the ITR filing utility or online …

Attention taxpayers! You can now claim Section 87A rebate in updated ITR-2 and ITR-3 forms
1 week, 6 days ago

Attention taxpayers! You can now claim Section 87A rebate in updated ITR-2 and ITR-3 forms

Live Mint  

The Income-Tax Department is allowing taxpayers who qualify for the section 87A tax rebate for FY24 to now claim it in the updated Income-Tax Return forms — ITR-2 and ITR-3, according to a report by Business Today. Eligible taxpayers will soon be able to submit a revised or belated income tax return to benefit from the section 87A tax rebate. …

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