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Rebate Under 87a of Tax Section 87a of Tax Act 87a Rebate for AY 202425 YouTube For new regime from FY 2025-26 (AY 2026-27) onwards, the rebate is applicable only for tax computed as per slabs and not for any special rate taxes Here's a detailed table illustrating the rebate and tax calculation for a net income of ₹7,05,000 under the new tax regime for FY 2024-25 and AY 2025-26, incorporating marginal relief: For Financial Year 2024-25 (Assessment Year 2025-26)
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New Tax Slab Rates FY 202425 (AY 202526) by Budget 2024Rebate u/s 87A, Standard . Rebate u/s 87A provides a tax rebate to individual taxpayers, reducing their tax liability if their income falls within specified threshold. 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