Learn how to claim a rebate under Section 87A while filing your Income Tax Return (ITR), including eligibility criteria and applicable rules, to help reduce your overall tax liability.
First, understand what a rebate is and how much you can claim. A rebate is a tax benefit that reduces the amount of tax payable by deducting a specified amount from the total tax liability. It is primarily designed to support low- and middle-income taxpayers by easing their tax burden.
Under the old tax regime, a rebate of up to ₹12,500 is available for individuals with income up to ₹5 lakh. Under the new tax regime, a higher rebate of up to ₹60,000 is allowed for income up to ₹12 lakh. Read also: https://saginfotech-ca-software.weebly.com/home/claim-rebate-us-87a-itr-eligibility-rules
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