Maximize your tax savings under the new tax regime. This provision is especially beneficial. Section 87a of the income tax act provides a rebate against tax payable for resident individual taxpayers whose total income does not exceed a specified threshold.
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Rebate is a tax benefit available to middle and low income earners. 12 lakhs under the new regime can claim. A major highlight is the enhanced section 87a tax rebate under the new tax regime, making it possible for many to pay zero income tax!
This guide breaks down the updated section.
Learn about section 87a rebate in income tax, its eligibility, calculation, and budget 2025 updates. Indian residents whose income falls within rs 5 lakhs under the old regime and rs. Check tax liabilities and special rate incomes on 87a rebate. An assessee, being an individual resident in india, whose total income does not exceed five hundred thousand rupees, shall be entitled to a.
60,000 in tax with the section 87a rebate.
