Rebate Under Section 87a For Fy 2024-24. 5 lakhs was introduced by the finance act 2019 w.e.f. 7,00,000 under the new tax regime.
Section 87a rebate does not allow in old regime if your income go above 5,00,000. Currently, section 87a of the income tax law allows individuals to claim a tax rebate of rs 12,500 under the old tax regime and rs 25,000 under the new tax regime.
Section 87A Rebate For Ay 2024.
In budget 2023, the tax rebate for individuals has been increased to inr 25,000 which means individuals having taxable income up to inr 7,00,000 can claim rebate under.
1) Income Tax Exemption Limit Increased From Rs 2.5 Lakh To Rs 3 Lakh.
Section 87a rebate is an income tax provision that allows taxpayers to lower their tax liability.
Section 87A Rebate Is An Income Tax Provision That Allows Taxpayers To Lower Their Tax Liability.
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Section 87A Rebate Is An Income Tax Provision That Allows Taxpayers To Lower Their Tax Liability.
The rebate under section 87a has been doubled to โน25,000 for qualifying individuals.
In Budget 2023, The Tax Rebate For Individuals Has Been Increased To Inr 25,000 Which Means Individuals Having Taxable Income Up To Inr 7,00,000 Can Claim Rebate Under.
However, under both the old and new income tax regimes, there is no change in the.
Section 87A Rebate Does Not Allow In Old Regime If Your Income Go Above 5,00,000.