Section 87a Of Income Tax Act Ay 2024-25

Section 87a Of Income Tax Act Ay 2024-25. Rebates under section 87a allow. Individuals having taxable income of up to rs 7 lakh are eligible for tax rebate under section 87a of up to rs 25,000, thereby making zero tax payable in the new tax.

Rebate under section 87a helps taxpayers to reduce their income tax liability. After the computation of income, the taxpayer can compute the income tax liability as per the income tax act.