ITR Filing 2024: Taxpayers Face Rebate Issues Due to E-Filing Glitches

- Taxpayers eligible for a rebate under the new tax regime are facing issues due to recent updates in the e-filing utility on the income tax portal.
- The rebate of up to Rs 25,000 is being denied to those with short-term capital gains, despite the Income Tax Act, 1961 allowing it.
- Chartered accountants highlight that the anomaly affects hundreds of low-income earners and needs correction.
- Tax experts note that the rebate was available for returns filed before July 5, 2024, but the updated utility now denies it.
- The issue arises from different interpretations of 'total taxable income,' causing genuine taxpayers to miss out on rightful benefits.

Source: Moneycontrol