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| Name | New Update on Income Tax Portal: Rebate u/s 87A Calculation Changes Explained |
| Video Uploader | Video From FinTaxPro |
| Upload Date | This Video Uploaded At 14-07-2024 07:50:09 |
| Video Discription | A small correction - special tax in case of marginal relief should be 180000 (by mistake i have mention 108000) There is no change in conceptual understanding In this video, we dive into a crucial update on the Income Tax Portal that affects how rebates under section 87A are calculated. Recently, the Income Tax Portal has modified the rebate calculations, specifically impacting taxpayers who have opted for the new tax regime. Under this update, the rebate is no longer available on tax levied at special rates, which marks a significant shift from previous rules. We cover the following key points in detail: Understanding Section 87A Rebate: A brief overview of what the section 87A rebate is and who is eligible for it. Previous Calculation Method: Detailed explanation of how the rebate was calculated before this update, including examples and scenarios. New Calculation Method: In-depth analysis of the updated calculation method, highlighting the specific changes introduced by the Income Tax Portal. Impact on Taxpayers: Discussion on how these changes affect taxpayers, especially those opting for the new tax regime. Comparison with Special Rate Income: Clarification on why the rebate is now excluded for special rate income under the new tax regime. Practical Examples: Step-by-step comparison of tax calculations before and after the update to illustrate the differences. Tips for Tax Planning: Advice on how to adjust your tax planning strategies in light of these changes to maximize benefits and compliance. 👨🏻🎓Practical Courses- 👉🏻ITR, GST & TDS (Tax Combo) - https://fintaxpro.in/Combo 👉🏻Account Finalization - https://fintaxpro.in/Accounting 👉🏻ROC eFiling - https://fintaxpro.in/courses/roc/ 👉🏻Trademark e Filing Course - https://fintaxpro.in/TM 👉🏻Taxation for Share Market - https://fintaxpro.in/share 👉🏻GST Course - https://fintaxpro.in/GST 👉🏻ITR & TDS Course - https://fintaxpro.in/ITR 👉🏻Excel Course - https://fintaxpro.in/Excel 👉🏻Taxation for Online Sellers - https://fintaxpro.in/online 👉🏻Balance Sheet & PnL Finalization - https://fintaxpro.in/BstPnL 👉🏻All in one Combo Course - https://fintaxpro.in/All 📞7827521794 (For Course queries only) 📞For GST Filing, ITR Filing, Trademark Filing, Trademark Reply, Company Incorporation, ROC Compliance, DSC, Project report, MSME Certificate and other related services call us at 9718097735 or 7048930220 📍Buy class 3 DSC with 2 years @1250 - https://fintaxpro.in/dsc/ 📍Utilities 👉Buy GST computation https://imojo.in/jy67ZG 👉Buy TDS Calculator https://imojo.in/5Jv0gj 👉Buy amazon profit calculator https://imojo.in/1FkCqbs 👨🏻🎓For Magazine - https://fintaxpro.in/newsletter/ 📩info@fintaxpro.in Telegram channel - https://t.me/fintaxpro Whats app channel - https://whatsapp.com/channel/0029VaB4Tvq5q08YWxRHwd3z FinTaxPro Mobile App - http://bit.ly/3WJ63tX FinTaxPro Social Handles- https://linktr.ee/fintaxpro FinTaxPro Studio Gear - https://linktr.ee/fintaxpro_gear FinTaxPro Live - https://www.youtube.com/@FinTaxProLive Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of YouTube videos. Copyright Disclosure - As per Sec 52 of The Copyright Act,1957 Fintaxpro Advisory LLP shared this video with a clear objective to educate the public at large and thus constitute the fair dealing with content for the purpose of reporting of current events and current affairs, including the reporting of a lecture delivered in public ©️Fintaxpro Advisory LLP Tags fintaxpro,gst update,income tax update,rebate u/s 87a,87a rebate in new tax regime,tax rebate under section 87a,87A wrong,wrong 87A rebate,rebate 87A issue,87A calculation,87A rebate update,New calculation for Rebate us 87A,No Rebate for special rate income |
| Category | Education |
| Tags | fintaxpro | gst update | income tax update | rebate u/s 87a | 87a rebate in new tax regime | tax rebate under section 87a | 87A wrong | wrong 87A rebate | rebate 87A issue | 87A calculation | 87A rebate update | New calculation for Rebate us 87A | No Rebate for special rate income |
