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Tax Changes Section 87A Rebate and Capital Gains The income threshold for claiming a tax rebate under Section 87A for resident individuals taxable under the new regime of Section 115BAC has been increased from Rs 7 lakhs to Rs 12 lakhs, and the maximum rebate amount has been raised from Rs 25,000 to Rs 60,000,” the CBDT confirmed
Income Tax Rebate Under Section 87A - ClearTax Rebate is a tax reduction available to resident individuals when they earn income within a certain ceiling limit Section 87A provides tax relief to resident individuals falling under lower income brackets For FY 2024-25, Rs 25,000 rebate is allowed for income within 7 lakhs under the new regime and Rs 12,500 is allowed for income within 5 lakhs under the old regime For FY 2025-26, rebate
Section 87A Rebate Income Tax New change from AY 2026-27 The Finance Bill 2025 significantly enhances the rebate under Section 87A for taxpayers opting for the new tax regime (115BAC) The increased income limit and rebate amount will provide substantial relief to taxpayers with incomes up to ₹12,00,000 under the new tax regime
No tax for up to Rs 12. 75 lakh income for salaried under new tax regime . . . The finance minister has announced a hike in tax rebate under Section 87A Due to this hike, resident individuals having net tax able income up to Rs 12 lakh will pay zero tax Salaried individuals having standard deduction benefit of Rs 75,000 under the new tax regime will pay zero tax if gross taxable income does not exceed Rs 12 75 lakh Current income tax laws allow zero tax on income up
₹12 Lakh Tax-Free Limit? Decoding the New Income Tax Proposal The Budget 2025 has introduced a major game-changer: under the new tax regime (Section 115BAC), resident individuals with taxable income up to ₹12 lakh can now enjoy a full rebate under Section 87A, effectively making their tax payable zero for FY 2025–26
Rebate under section 87A - taxtmi. com Under section 87A of the Act, individual residents in India with total income up to Rs 5 lakh are exempt from paying income tax The Finance Act, 2023 introduced a proviso allowing a rebate up to Rs 25,000 for incomes not exceeding Rs 7 lakh under section 115BAC, with marginal relief for incomes above Rs 7 lakh From the assessment year 2026-27, the income limit for rebate is proposed to
Pay Zero Tax on Rs 17 Lakh Rental Income in FY 2025-26: Heres How Here's how you can aim for zero tax on Rs 17 lakh rental income in FY 2025-26: Opt for the New Tax Regime (Section 115BAC): The New Tax Regime for FY 2025-26 (AY 2026-27) has been revised to offer a higher tax-free limit Under the new regime, income up to Rs 12 lakh can be effectively tax-free due to the increased rebate under Section 87A
Marginal Relief u s 87A for New Tax Regime u s 115BAC(1A) Marginal Relief under section 87A of Income Tax Act, 1961 for New Tax Regime u s 115BAC (1A) Presently, rebate is allowed u s 87A of Rs 12,500 - in old regime of Income Tax, if any resident individual whose total income during the previous year does not exceed Rs 5,00,000
Rebate U S 87A For FY 2024-25(AY 2025-26): A Comprehensive Overview Promotes the New Tax Regime: By offering a higher income threshold for the rebate, the government incentivises the adoption of the new tax regime Eligibility Criteria for Rebate under section 87A for AY 2025-26 Who is eligible for 87A rebate?