Rebate Under New Tax Regime Fy 2024-23. Under the budget 2023, the tax rebate under section 87a has been hiked to rs 25,000 for taxable income up to rs 7 lakh for the new tax regime. Income tax slabs were revised under the new tax regime.
However, no 87a rebate will be available if your total income for the fiscal is higher than rs. Changes and amendment related to trust and ngos 07 feb.
7 Lakhs In The Alternative Tax Regime 01 Feb 2023 ;
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Resident Individuals With Taxable Income Up To Rs 500,000 Can Claim A Tax Rebate Of Up To Rs 12,500 U/S 87A Of The Income Tax Act,.
This is due to tax rebate under section of 87a of the income tax act.
It Is A Vital Form Needed For.
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New Taxpayers With Income Sources Solely From Salary And Without Business Income Are Mandatorily Placed Under The New Tax Regime.
Under the budget 2023, the tax rebate under section 87a has been hiked to rs 25,000 for taxable income up to rs 7 lakh for the new tax regime.
Income Tax Slabs Were Revised Under The New Tax Regime.
7 lakh annually now receive a tax rebate under the new tax regime.
Click View Comparison To Get A More Detailed Comparison Of Tax Under The Old And New Tax Regime.