No income tax rebate under Section 87A even if income is less than Rs 7 Lakh under new tax regime in this situation, point out CAs

Chartered Accountants have raised concerns about the denial of Section 87A tax rebates to eligible taxpayers with special rate incomes like STCG under the new tax regime. While a Budget 2025 amendment restricts this rebate on special incomes from FY 2025-26, the ITR utility is already denying it for FY 2024-25, causing confusion and additional tax burdens. Read more.

from Tax-Wealth-Economic Times https://ift.tt/mpFy3At