Tax Rebate Us 87a For Fy 2025 24

Tax Rebate Us 87a For Fy 2025 24. TAX REBATE UNDER SECTION 87A YouTube There is no change in the scope of rebate for those who file under the new regime in FY 2024-25 (AY 2025-26) Click here for Applicable Income Tax Slab For FY 2023-24

Notably, no marginal relief is available if total income exceeds Rs 500,000, unlike the tax rebate under the new tax regime from AY 2024-25. Rebate u/s 87A for FY 2023-24 (AY 2024-25) Under both the old and new income tax regimes, the amount of the rebate under Section 87A for FY 2023-24 & FY 2022-23 [(AY (2022-23) & AY (2023-24)] has remained unchanged.However, from FY 2023-24 due to a change in the slab rates under the new tax regime, the rebate threshold is changed.Under the old tax regime, a resident individual with taxable.

Tax Rebate Under Section 87A How It Avail, Eligibility

For Financial Year 2024-25 (Assessment Year 2025-26) Section 87A of the Income Tax Act, 1961, provides a 100% tax rebate if the income tax liability is up to Rs 12,500 for resident individuals with taxable income up to Rs 500,000 under the existing tax regime Rebate u/s 87A for FY 2024-25 (AY 2025-26) The rebate under Section 87A is available to individual taxpayers whose income does not exceed the specified threshold

TAX REBATE UNDER SECTION 87A YouTube. in FY 2023-24, the new rebate slab of tax regime will have to be revised taking into account changes that took place in slab rates. The concept of marginal relief ensures that the additional tax payable on income exceeding ₹7,00,000 under the new tax regime does not exceed the actual income exceeding the rebate threshold.

Section 87A rebate in old & new tax regime 2425 87A Rebate New Regime Rebate section 87A. This update, shared on January 6, 2025, comes as good news for those who missed out on the rebate during their initial filing. Notably, no marginal relief is available if total income exceeds Rs 500,000, unlike the tax rebate under the new tax regime from AY 2024-25.