TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 87A: rebate up to Rs.12,500 for income up to Rs.5,00,000; Section 115BAC(1A): rebate up to Rs.60,000 with marginal relief</h1> A resident individual with total taxable income up to Rs. 5,00,000 for FY 2023-24 may claim rebate under section 87A equal to the lower of the income-tax liability or Rs. 12,500. No rebate is available if taxable income exceeds Rs. 5,00,000. Separately, for income charged under section 115BAC(1A), a maximum rebate of Rs. 60,000 is allowable where total income is up to Rs. 12,00,000; if total income exceeds Rs. 12,00,000 and tax payable exceeds the excess over Rs. 12,00,000, marginal relief permits a rebate limited to that difference.
TaxTMI 
TaxTMI 
