Rebate u/s 87A - Resident Individuals whose total income does not exceed ₹5 Lakh

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..... on such income, whichever is less Key points : w.e.f. from 01 st April 2024; Where the total income of the assessee is chargeable to tax under section 115BAC(1A) , and the total income - (a) the total income does not exceed 7,00,000/- rupees , the assessee shall be entitled to a deduction from the amount of income-tax (as computed before allowing for the deductions under this Chapter) on his total .....

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..... - if B A, rebate u/s 87A would be a B-A. The amount of rebate u/s 87A shall be exceed the amount of income tax (as computed before allowing such rebate) on the total income of the assessee. Rebate is available only to Resident Individuals and not available to Non Residents Rebate is allowed before levy of Health Education Cess Surcharge. This rebate shall be subtracted from the Total Tax payable a .....

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