These cash transactions may attract up to 100% penalty by Income Tax department
Any violation of the above limit attracts heavy penalty. “The penal consequences of violating the mandate above is imposition ...
Wait until I-T portal glitch is resolved before revising returns, CAs tell tax-payers
At present, small tax-payers with special rate income such as short-term capital gains are unable to claim the rebate under ...
Income Tax dept updates ITR Forms 2 and 3 for claiming 87A tax rebate
It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...
ITR FY2023-24: I-T dept updates ITR forms to claim 87A rebates; check steps how to go about the process
The Income Tax Department has released revised Excel utilities for ITR Forms 2 and 3. Additionally, the department has ...
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ITR filing: Technical glitch keeps Section 87A rebate unavailable for taxpayers
Taxpayers remain unable to claim the Section 87A rebate on STCG income due to outdated ITR processing logic, even after recent updates to filing forms by the Income Tax Department.
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ITR filing for FY23-24: How to claim section 87A rebate now with updated forms
To claim the Section 87A rebate, taxpayers must manually update the tax rebate column in the ITR Excel utility. After editing ...
Good news for taxpayers: ITR forms to allow 87A tax rebate claims have now been updated however there is a catch
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 ...
No Section 87A tax rebate despite ITR filing forms being updated recently: How to claim Section 87A tax rebate with deadline ending on January 15, 2025
The ITR filing utilites for ITR-2 and ITR-3 has been updated on January 4, 2025 however, the JSON schema is not yet updated ...