Webb4 nov. 2016 · Under section 87A, claimable rebate is up to Rs 12,500. The important thing here is that taxable income is calculated not just on tax slab. Someone earning Rs 8 lakh …
Tax Rebate Under Section 87A (A.Y.2024-23) - AlertTax.in
Webb7 feb. 2024 · The rebate us/ 87A has now been revised to Rs 12,500 for FY 2024-20 / AY 2024-21. This means that if the total tax payable is lower than Rs 12,500, then that amount will be the rebate under section 87A. This rebate is applied to the total tax before adding the Education Cess (4%). WebbThe maximum amount of rebate is Tax due subject to maximum Rs 2000/- Education Cess & Secondary & Higher education cess is to be calculated after allowing the rebate under section 87A on balance tax due. Examples Note : la f king of drill
FAQs on rebate u/s 87A - FinancePost
Webb1 mars 2024 · Rebate u/s 87A: Not applicable: Total Tax: 2,57,868: Apart from this, you can also claim these tax deductions if eligible: Interest on home loan EMIs under Section 24b-2,00,000: Principal amount of the home loan under section 80EEA-1,50,000: National Pension Scheme (NPS) investments u/s 80CCD(1B)-50,000 Webb26 apr. 2024 · Tax rebate under Section 87A is available for both old and new tax regimes for Financial Year 2024-2024 (The assessment Year 2024-2024). The limit remains the … Webb10 apr. 2024 · Who can claim a rebate under section 87A? Individual taxpayers are eligible for a rebate under Section 87A provided their total taxable income does not exceed Rs 5 lakh in case they have chosen the old tax regime and Rs 7 lakh in case of the new tax regime for the fiscal year 2024-24. project manager jobs austin tx