Rebate under section 87A

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....ount of income-tax payable i.e., an individual having income till Rs 5 lakh is not required to pay any incometax. 2. Finance Act, 2023 inserted proviso to the said section, to provide rebate of income-tax in cases where the total income of such assessee is chargeable to tax under sub-section (1A) of section 115BAC. Proviso to section 87A provides the rebate of income-tax in cases of such individu....

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....individual resident in India whose income is chargeable to tax under the sub-section (1A) of section 115BAC, it is proposed to,- (i) enhance the limit of total income for rebate in clause (a) and (b) of first proviso under section 87A, on which the income-tax is payable as per the rates of income-tax under sub-section (1A) of section 115BAC, from Rs. 7,00,000/- to Rs. 12,00,000/- and the limit o....