Rebate under new sheme
Priyanka Ojha (41 Points)
17 August 2024
what is the limit of income to be eligible for a rebate And what is The rebate amount under the new scheme of income tax act
Priyanka Ojha (41 Points)
17 August 2024
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(171133 Points)
Replied 17 August 2024
For the FY 2023-2024 (AY 2024-2025), the prescribed Income and rebate are as follows:
|
Tax Regime |
Taxable Income
|
Rebate
|
|
New Tax Regime |
Upto 7,00,000/- |
Upto 25,000/- |
|
Old Tax Regime |
Upto 5,00,000/- |
Upto 12,500/- |
For FY 2024-25. i.e. AY 2025-26.... No change under old regime, but for new Tax regime sec. 87A will get amended to maximun Rs. 20.000/-
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