No income tax rebate under Section 87A even if income is less than Rs 7 Lakh under new tax regime in this situation, point out CAs

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Chartered Accountants have raised concerns about the denial of Section 87A tax rebates to eligible taxpayers with special rate incomes like STCG under the new tax regime. While a Budget 2025 amendment restricts this rebate on special incomes from FY 2025-26, the ITR utility is already denying it for FY 2024-25, causing confusion and additional tax burdens. Read more.