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of <h1>Section 88D Offers Tax Rebate for Indian Residents Earning Up to 100,000 Rupees; Eases Low-Income Tax Burden</h1> Section 88D of the Income-tax Act, introduced by the Finance (No. 2) Act, 2004, effective from April 1, 2005, provides a tax rebate for certain resident individuals in India. Individuals with a total income not exceeding 100,000 rupees are eligible for a 100% deduction of their income tax. For those whose income exceeds 100,000 rupees, the deduction is limited to the amount by which the income tax payable exceeds the excess over 100,000 rupees. This provision aims to reduce the tax burden on lower-income individuals.
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