Section 87A rebate rule correction: No income tax till income of Rs 12.75 lakh for salaried individuals except this income

For FY 2025-26 (AY 2024-25) Section 87A rebate allows an salaried individual to not pay any tax for income up to Rs 12.75 lakh but this rebate is not allowed on short term capital gains income under new tax regime. However, a drafting error in standard deduct…

Read Full Article →