Rebate Under Sec 87a For Ay 2024-24. Income tax rebate under section 87a of income tax act 1961 provides a rebate from income tax up to rs. Tax rebate under section 87a before 5th july 2024 is available on total income up to ₹7 lakh including special rate incomes.
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. Rebate under section 87a for ay 202424 tonye wilone, under the new tax regime, if an individual’s taxable income exceeds ₹ 7 lakh by just ₹ 10, they lose the rebate of ₹.