Rebate of income-tax in case of certain individuals

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..... computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such incometax or an amount of 4 [ 6 [ twelve thousand and five hundred ] rupees ] , whichever is less. 7 [ Provided that where the total income of the assessee is chargeable to tax under sub-section (1A) of section .....

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..... amount by which the income-tax payable on such total income is in excess of the amount by which the total income exceeds seven hundred thousand rupees. ] ----------------------------------------- Notes:- 1. inserted vide Finance Act 2013 w.e.f.1st day of April, 2014 [Earlier, it was omitted vide the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 as Rebate on educational expenses in .....

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