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of <h1>Tax Deduction: 100% or Up to 12,500 for Income </h1> A resident individual assessee is eligible for a deduction of 100% of income-tax payable or twelve thousand five hundred rupees, whichever is lower, if their total income does not exceed five lakh rupees in a tax year. For income chargeable under section 202(1), if the income does not exceed twelve lakh rupees, a deduction of 100% of the income-tax payable or sixty thousand rupees, whichever is less, is allowed. If income exceeds twelve lakh rupees, the deduction is the income-tax payable reduced by the excess over twelve lakh rupees, not exceeding the tax payable as per section 202(1) rates.
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