Hello All,
Is rebate under section 87A is applicable in New Tax Regime ???
Tanvi Patel (Deputy Accounts Manager) (95 Points)
25 March 2021Hello All,
Is rebate under section 87A is applicable in New Tax Regime ???
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 25 March 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 26 March 2021
Individuals having taxable income of up to Rs 5 lakh will be eligible for tax rebate under section 87A up to Rs 12,500, thereby making zero tax payable in the new tax regime.
Kapadia Pravin
(17254 Points)
Replied 26 March 2021
Section 87A doesn't apply to new regime of tax slabs.
CA Puja Sharma
(Chartered Accountant)
(4972 Points)
Replied 26 March 2021
Yes rebate is available even if you chose new tag regime.
You can try to same using the tax calculator option also on income tax portal.
Kamal Verma
(Financial advisor)
(579 Points)
Replied 26 March 2021
Yes rebate u/s 87A is available up to income of Rs. 5,00,000 in new regime.
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