Rebate U/S 87a For Ay 2024-25 Old Tax Regime

Rebate U/S 87a For Ay 2024-25 Old Tax Regime. Resident individuals under existing tax regime having a total income of up to rs 500,000 can receive a tax rebate of up to rs 12,500 under section 87a for ay 2023. Individuals with net taxable income less than or equal to rs 5 lakh will be eligible for tax rebate u/s 87a under the old tax regime, i.e.

Section 87a rebate does not allow in old regime if your income go above 5,00,000. Tax liability will be nil.