RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Charitable sports promotion: sponsorship receipts alone did not defeat registration where funds supported tournaments and player development activitie...
Overdue associated-enterprise receivables: debt-free status defeated notional-interest adjustment, while employee stock-option costs qualified as busi...
Retrospective assessment-limitation amendments validate final orders while contemporaneous segment data governs transfer-pricing comparability and tol...
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Section 87A rebate is available against tax on total income, including short-term capital gains taxable at special rates under section 111A, for an individual governed by section 115BAC(1A) whose total income does not exceed the prescribed threshold. The rebate applies to the tax liability computed on total income without distinguishing between income taxed at normal rates and income subject to the special rate for short-term capital gains. The stated position sustains entitlement to rebate on tax attributable to such gains.
Section 87A rebate is available against tax on total income, including short-term capital gains taxable at special rates under section 111A, for an individual governed by section 115BAC(1A) whose total income does not exceed the prescribed threshold. The rebate applies to the tax liability computed on total income without distinguishing between income taxed at normal rates and income subject to the special rate for short-term capital gains. The stated position sustains entitlement to rebate on tax attributable to such gains.
Note: It is a system-generated summary and is for quick reference only.