ITR 2 calculating wrong rebate 87A

Karan (.) (58 Points)

06 July 2024  

Salary Income - 5,53,501
STCG 111A - 11,371
LTCG 112A - 2,076
Other Sources - 79,753
New Regime
Rebate u/s 87A should be available on whole tax of Rs 15,869 but ITR 2 is only allowing it for tax on regular income.
I even checked income tax calculator on ITD website and same is calculating rebate correctly and showing 0 tax.

Am I missing something or is this an error in ITR Form?

The rebate can be claimed against tax liabilities on:

  • Normal income is taxed at the slab rate.

  • Long-term capital gains under Section 112 of the Income Tax Act (excluding listed equity shares and equity-oriented schemes of mutual funds).

  • Short-term capital gains on listed equity shares and equity-oriented schemes of mutual funds under Section 111A, taxed at a flat rate of 15%.