This tax slab is as per budget 2024 (new tax regime). Applicable for individual and huf.
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.
The Rebate Amount Under Section 87A Allows A Tax Rebate Of Up To Rs.
To provide tax relief to individual taxpayers in the 5% tax slab, section 87a provides a tax rebate from the total tax liability of an assessee, a resident individual in.
25,000 Under The New Tax Regime.
In india, income tax is calculated using income tax slabs and rates for the applicable financial year (fy) and assessment year.
Images References :
12,500 For Individuals With Taxable Income Up To Rs.
It allows you to claim the refund if your yearly income does not exceed.
Section 87A Of The Income Tax Act Specifies Eligibility,.