no 87A on STCG
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income below 5 lakh, yet 87A rebate not given on STCG
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Many people are getting demand notice who have claimed 87A rebate on STCG under new regime. I guess paying demand is the only option as IT department is clearly denying the rebate.
What's your view @third.i.financial.advisors
We can't manually claim rebate under 87A. The ITR software automatically applies it, doesn't it?So I don't know why the notices are being sent.
Notice maybe correct .. have to pay tax. ... are there any winnings ?
Seems you are unaware of this issue
I have also received demand notice due to this rule change.
Looks like the only option is that we have to pay that amount .
This rule implemented on 5th of July and i have submitted my return on 04 july.
Is there any thing I can do?
I also got demand notice of 11350 from ITD. I have only STCG along with salary.
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gambling winning, online games, betting earnings, game show earnings, virtual digital assets, etc are not eligible for claiming rebate under section 87A,
If your income is only equity submit grievance