Section 87A tax rebate can be claimed for short term capital gains income under new tax regime, rules ITAT Ahmedabad

In a significant win for taxpayers, the ITAT Ahmedabad has ruled that Section 87A tax rebate is applicable on short-term capital gains (STCG) under the new tax regime for AY 2024-25. This decision allows taxpayers with total income up to Rs 7 lakh to claim the rebate on STCG, nullifying tax department notices denying such claims. Read more.

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