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Full Income Tax Exemption Raised to Rs. 7 Lakh Under New Regime (Section 115BAC); Old Regime Limit Stays at Rs. 5 Lakh.

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....Income Tax - Rebate u/s 87A - Benefit of full exemption from Income is extended where the total income is not exceeding Rs. 7 lakhs as computed under the New Tax Regime u/s 115BAC - For the old tax regime, the full tax exemption is limited to Rs. 5 lakhs only as earlier.....

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