ITR Demand notice

Income Tax
1

I received ITR Demand notice, can someone explain pls? What do you suggest I should do?

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Screenshot_2024-09-20-02-45-55-23_3aea4af51f236e4932235fdada7d1643963×1188 171 KB

2

Hi @knight ,

Have you declared the income from capital gains in ITR and filed before 5th July 2024?

3

Filed and e-verfied on 8th July @garg.pulkit131

4

Hi @knight,

Prima facie it seems like the rebate u/s 87A has been disallowed in your case. It may be due to the change implemented by the ITD where this rebate was removed from special rate incomes which includes capital gains.

I’ve written about this in detail here.

Let me know if you have any further doubts.

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