Section 87a Of Income Tax Act Ay 2024-25. When do salaried individuals need to file itr? Under the provisions of section 87a of the act, an assessee, being an individual resident in india, having total income not exceeding rs 5 lakh, is provided a.
It allows you to claim the refund if your yearly income does not exceed. 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.
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:
The rebate amount is rs.
12,500 For Individuals With Taxable Income Up To Rs.
Under the provisions of section 87a of the act, an assessee, being an individual resident in india, having total income not exceeding rs 5 lakh, is provided a.
Section 87a Of Income Tax Act Ay 2024-25 Images References :
The Current Limit Of Rs.
The rebate amount under section 87a allows a tax rebate of up to rs.
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.
Resident individuals with a net taxable income less than or equal to inr.