Rebate U/S 87a For Ay 2024-20. Rebate for individuals with income below rs 5,00,000 u/s 87a. Individuals with net taxable income up to rs 5 lakh will be eligible for tax rebate u/s 87a in both new and old/existing tax regimes.
This means that when you will file. For the new tax regime, rebate under section 87a is available to resident individuals whose total income during the previous year does not exceed rs.
The Rebate Is Rs 12,500 Or 100% Of Income Tax (Whichever Is Lesser).
In budget 2023, rebate under new regime has been increased to rs.
* Relief U/S 87A Up To Rs.
A surcharge is additional money taken along with the income tax.
The Rebate Under Section 87A Has Been Increased To A Taxable Income Of Rs 7 Lakh (Providing A Tax Rebate Of Rs 25,000), Up From Rs 5 Lakh (Offering A Tax Rebate.
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Rebate For Individuals With Income Below Rs 5,00,000 U/S 87A.
* relief u/s 87a up to rs.
Individuals With Net Taxable Income Up To Rs 5 Lakh Will Be Eligible For Tax Rebate U/S 87A In Both New And Old/Existing Tax Regimes.
12,500 under section 87a which cancels your income tax of rs.
The Rebate Is Rs 12,500 Or 100% Of Income Tax (Whichever Is Lesser).