87a rebate availment
This query is : Resolved
05 January 2025
I had filed my income tax return before 5th July availing 87A rebate on tax on stcg, however while processing the return, department has calculated demand on the same, now if high court in its judgement allows the rebate, what should I do? Revise the return or file rectification to process the return?
I had filed rectification to reprocess once and department had not allowed rebate that time.
I had filed rectification to reprocess once and department had not allowed rebate that time.
05 January 2025
Better option would be to revise the return before 15th, with new utility that is to be released which would allow the rebate again.
15 January 2025
No judgement by high court till now and today remains last date to revise itr, what should we do?
15 January 2025
High court judgment already came in favor of assessee. That is the reason the department has allowed the rebate u/s. 87A for even STCG. For that new utility has been released and the date has been extended by 15 days. Revise the return today and claim the rebate as in your original return.
24 February 2025
I had revised the return, however department has again calculated demand and not allowed rebate u/s 87A. What should I do now?
24 February 2025
What was your aggregate income, including capital gains?
25 February 2025
6.8 lacs total income from all sources.
25 February 2025
Had you filed return under old regime? Or whether the return has been processed under old regime?
25 February 2025
No I filed both original and revised under new regime and they have been processed under new regime only without allowing rebate on Tax on STCG.
25 February 2025
File rectification request to reprocess it.
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