Rebate under Section 87A

Tax Glossary Definition

Rebate under Section 87A

Section 87A provides a tax rebate to resident individual taxpayers whose total income does not exceed ₹5 lakh in a financial year. The rebate reduces the tax liability, subject to a maximum limit prescribed under the Income Tax Act.

Example: An individual with a total income up to ₹5 lakh is eligible for a rebate of ₹12,500, reducing their tax payable to zero

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