Rebate 87a For Ay 2024-25. To make the new tax regime more attractive, the rebate under section 87a has been hiked to rs 25,000 for taxable income up to rs 7 lakh. If your total income does not exceed rs 7 lakh under the new tax regime or rs 5 lakh under the old tax regime, you can claim the rebate.
You are exempt from paying income tax due to the rebate under section 87a. Employers can claim a deduction of up to 190 percent of the additional employee costs incurred by hiring new eligible employees during a fiscal year.
Any Individual Whose Annual Net Income Does Not.
To make the new tax regime more attractive, the rebate under section 87a has been hiked to rs 25,000 for taxable income up to rs 7 lakh.
If Your Total Income Does Not Exceed Rs 7 Lakh Under The New Tax Regime Or Rs 5 Lakh Under The Old Tax Regime, You Can Claim The Rebate.
7,00,000 under the new tax regime.
Rebate 87a For Ay 2024-25 Images References :
What Is Income Tax Rebate U/S 87A?
Section 87a of the income tax act, 1961, provides for a rebate in income tax payable for resident individuals with taxable income up to a certain limit.
Any Individual Whose Annual Net Income Does Not.
Individuals having total taxable income of up to rs 5 lakh are eligible for tax rebate under section 87a of up to rs 12,500, thereby making zero tax payable in the.