Income tax rebate: Income tax rebate under section 87A is not available for Long Term Capital Gains (LTCG). "Earlier the Income Tax Utility Software allowed filing of returns with rebate, but after July 5, 2024 this rebate is no longer given for STCG. Pursuant to those returns which were filed with rebate are now getting intimations for tax demand equivalent to amount to rebate availed," says CA Hardik Kakadiya, President, Chartered Accountants Association Surat (CAAS). Read The Rest at :
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