Judgement

Delhi ITAT grants relief after an accountant mistakenly selected the old tax regime in the ITR despite the tax being calculated under the new regime.

Accountant’s Mistake in Selecting Old Tax Regime Cannot Trigger Extra Tax Burden, ITAT Directs Fresh Computation Under Section 115BAC

Assessee filed Form 10-IE late; ITAT held the delay is procedural and allowed the new tax regime benefit under Section 115BAC.

Late Income Tax Form 10-IE, No Problem: ITAT Grants Tax Regime Relief

ITAT Delhi held that a minor one-day delay in e-verification cannot deprive a taxpayer of the benefit under Section 115BAC.

One day delay in receipt of ITR with CPC Bangalore cannot deny Taxpayer from Opting New Tax Regime: ITAT

ITAT allows a rebate under Section 87A on STCG if the total income is below Rs. 7 lakh and the taxpayer opts for the new tax regime under Section 115BAC(1A) for AY 2024-25.

ITAT Ahmedabad Allows Rebate Under Section 87A on STCG Despite Special Tax Rate

Articles

A maximum rebate of Rs.25,000 is allowed to an individual under Section 87A if the total income does not exceed Rs.7,00,000. who is opting for the new tax scheme under Section 115BAC(1A).

Income Tax Rebate: A New Confusion for FY 2024-25

News

An error message was received by taxpayers completing Q4 TDS returns (Form 24Q) and claiming standard deduction under section 16(ia) for Section 115BAC cases.

Error in Salary TDS Return Form 24Q for FY 2023-24 to be Rectified Soon; says IT Dept

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