The Economic Times

Section 87A rebate on capital gains from debt mutual fund: ITAT Chandigarh gives relief to taxpayer and cancels Rs 25,710 tax demand notice from Income Tax Dept

The Income Tax Appellate Tribunal in Chandigarh has ruled that taxpayers can claim the Section 87A tax rebate on long-term capital gains from debt mutual funds. This decision overturns a tax demand of Rs 25,710 for a taxpayer. The tribunal clarified that the restriction on this rebate applies only to equity-oriented gains. Read more.