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

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..... such income, whichever is less Key points: * w.e.f. from 01st 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 .....

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..... on total income (B) * Step 3 - 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 reb .....

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