Rebate Under Section 87a For Ay 2024-24. Detailed analysis of its impact on tax liability and potential issues. Resident individuals are also eligible for a rebate of up to 100% of income tax subject to a maximum limit depending on tax regimes as under:
Also, check the updated tax slabs for individuals. To claim rebate under section 87a one should:
The Union Budget For Fy24 Introduced Marginal Tax Relief In The New Tax Regime.
Resident individuals are also eligible for a rebate of up to 100% of income tax subject to a maximum limit depending on tax regimes as under:
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.
Detailed analysis of its impact on tax liability and potential issues.
Rebate Under Section 87a For Ay 2024-24 Images References :
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.
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.
Section 87A Rebate Is An Income Tax Provision That Allows Taxpayers To Lower Their Tax Liability.