Tax Rebate U/S 87a For Ay 2024-24. Rebate under section 87a for ay 202425 87a rebate new tax regime, 7,00,000 under the new tax regime. Rebate under section 87a applicable:
Total income old tax regime The rebate amount is either rs.
Net Tax Payable After Rebate:
12,500 or the amount of tax payable, whichever is lower.
The Rebate Amount Is Either Rs.
Tax rebate up to rs.12,500 is applicable for resident individuals if the total income does not exceed rs 5,00,000 (not applicable for nris.
Deduction Upto 15,000 U/S.57 (Iia) For Family Pension:
Images References :
The New Tax Regime Has Lower Tax Rates, A Higher Rebate Slab Of Rs.
The budget 2023 made changes in the income tax slabs under the new tax regime.
In The Budget 2023 Announcement, The Rebate Under Section 87A Has Been Hiked To Rs.
7 lakhs under the new tax regime.
Refer Examples &Amp; Tax Slabs For Easy Calculation.