The Central Board of Direct Taxes (CBDT) has launched an updated utility for filing Income Tax Returns (ITRs) to address issues faced by taxpayers in claiming the 87A rebate. This rebate provides significant tax relief to individuals with a total income of up to ₹7 lakh under the new tax regime.

Previously, many taxpayers were unable to claim this rebate due to modifications in the ITR filing utility post-5 July 2024. To resolve this, the updated utility now ensures that all eligible assessees can exercise their statutory right to claim the rebate.

Taxpayers are advised to revise their ITRs before the extended deadline of 15 January 2025 to claim the rebate and avoid paying extra taxes. This is an excellent opportunity to rectify errors and ensure compliance with the updated rules. Don’t delay—file or revise your ITR today to maximize your tax savings