New Tax Regime Increases Rebate to Rs. 25,000 for Incomes up to Rs. 7,00,000, Doubling Previous Cap
In the old tax regime, a resident individual with a total income not exceeding Rs. 5,00,000 is eligible for a tax rebate of 100 percent, capped at Rs. 12,500. Under the new tax regime, the rebate increases to Rs. 25,000 or 100 percent of the income tax for individuals whose total income does not exceed Rs. 7,00,000.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.