Held that there exists no express bar either in S. 87A or s. 111A for denial of rebate in respect of tax payable on short-term capital gains at special rates under S. 111A; subsequent amendment made by the Finance Act, 2025, which is prospective in nature, clarifies that no such restriction was in force during the asst. yr. 2024-25; assessee is eligible for rebate under S. 87A for asst. yr. 2024-25 even though the income includes STCG taxable under S 111A and the assessee has exercised option under S. 115BAC. (AY. 2024-25)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.87A: Rebate on Income-tax in case of certain individuals-Tax on short-term capital gains-Computation of income under S. 115BAC-Amendment made by the Finance Act, 2025 supports the view that under the unamended provision applicable for asst. yr. 2024\u201325, rebate under S 87A cannot be denied merely because tax arises under s. 111A-The assessee is eligible for rebate under s. 87A for asst. yr. 2024-25 even though the income includes STCG taxable under s. 111A[S. 111A,112A(6), 115BAC] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-62047","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g8L","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=62047"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62047\/revisions"}],"predecessor-version":[{"id":62048,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62047\/revisions\/62048"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=62047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=62047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=62047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}