Section 87a Of Income Tax Act Ay 2024-25. Section 87a of the income tax act of 1961 provides a rebate on income tax to resident individual taxpayers. Determination of tax where total income includes income on which no tax is payable.
Any individual whose annual net. Missing deadline incurs penalties under section 234f.
The Income Tax Calculator Helps In Determining Tax Payable For A Financial Year.
Tax rebate under section 87a:
To Make The New Tax Regime More Attractive, The Rebate Under Section 87A Has Been Hiked To Rs 25,000 For Taxable Income Up To Rs 7 Lakh.
Under the provisions of section 87a of the act, an assessee, being an individual resident in india, having total income not exceeding rs 5 lakh, is provided a.
Section 87a Of Income Tax Act Ay 2024-25 Images References :
Determination Of Tax Where Total Income Includes Income On Which No Tax Is Payable.
Resident individuals with a net taxable income less than or equal to inr.
Late Filers Face Increased Scrutiny From Tax Authorities.
The rebate amount is rs.