Rebate of income-tax reduces computed tax using specified deductions, subject to an aggregate cap not exceeding pre-deduction tax liability. Rebate of income-tax allows specified deductions to be set off against the income-tax computed on an assessee's total income, applied to the tax amount as ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Rebate of income-tax reduces computed tax using specified deductions, subject to an aggregate cap not exceeding pre-deduction tax liability.
Rebate of income-tax allows specified deductions to be set off against the income-tax computed on an assessee's total income, applied to the tax amount as computed before chapter deductions. The aggregate of such rebate deductions is capped and cannot exceed the income-tax computed before allowing the deductions under the chapter.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.