Section 87a Of Income Tax Act Ay 2024-25. Section 87a of the income tax act of 1961 provides a rebate on income tax to resident individual taxpayers. This essentially means that you won’t have to pay any tax if your income is within this.
12,500 for individuals with taxable income up to rs. If your taxable income is upto ₹5 lakhs, you can get a tax rebate of ₹12,500.
Section 87A Is A Legal Provision Which Allows For Tax Rebates Under The Income Tax Act Of 1961.
Individuals having total taxable income of up to rs 5 lakh are eligible for tax rebate under section 87a of up to rs 12,500, thereby making zero tax payable in the old and new.
Section 87A Of The Income Tax Act Specifies Eligibility, Guidelines, And Rebates.
It allows you to claim the refund if your yearly income does not exceed rs.
Section 87a Of Income Tax Act Ay 2024-25 Images References :
12,500 For Individuals With Taxable Income Up To Rs.
If your taxable income is upto ₹5 lakhs, you can get a tax rebate of ₹12,500.
Claim Tax Rebate Under Section 87A (Only When The Income Does Not Exceed 5 Lakhs).
The section, which was inserted through the finance act of 2013, provides tax.