The Economic Times

Full Section 87A tax rebate on LTCG from equity income for AY 2024-25 allowed by ITAT Chennai; know how the taxpayer won

The Income Tax Appellate Tribunal ITAT Chennai has ruled that taxpayers can claim the Section 87A tax rebate on long-term capital gains from equity income for Assessment Year 2024-25. This decision allows a taxpayer to get a Rs 25,000 tax demand deleted. The tribunal stated the rebate applies to total income without distinguishing between normal and special tax rates.