87a Rebate For Ay 2024 25 New Tax Regime. On the other hand, if you’ve opted for the new. Income tax rebate under section 87a of income tax act 1961 provides a rebate from income tax up to rs.
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. For instance, if you’ve opted for the old tax regime, the maximum amount of rebate under section 87a of the income tax act is limited to ₹12,500.