Tax Rebate U/S 87a For Fy 2024-24. Section 87a provides a tax rebate to reduce the net tax payable to nil for eligible taxpayers. What is income tax rebate u/s 87a?
Tax rebate under section 87a. You used to receive a tax refund of rs 25,000 under section 87a of the new tax regime if your total taxable income was less than rs 7 lakh.
