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of <h1>Section 156 clarifies resident individual tax rebates: thresholds for full rebate, capped excess rebate, reducing calculation ambiguity</h1> Clause 156 grants a rebate from tax payable to resident individuals: full rebate up to Rs.12,500 where total income = Rs.5,00,000, and up to Rs.60,000 where total income = Rs.12,00,000; for incomes above Rs.12,00,000 the enacted text conditions a rebate equal to the excess of tax over the excess income, capped by tax payable under section 202(1). The enacted wording clarifies and corrects the Bill's earlier mechanically flawed formula (which risked unit-mismatch and ambiguous negative results), reducing computational ambiguity and likely lowering litigation risk for higher-income cases.
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