Hello All,
Is rebate under section 87A is applicable in New Tax Regime ???
6 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 25 March 2021
Yes rebate u/s 87A is available under new regime
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
(17259 Points)
Replied 26 March 2021
Section 87A doesn't apply to new regime of tax slabs.
CA Puja Sharma
(Chartered Accountant)
(5010 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)
(582 Points)
Replied 26 March 2021
Yes rebate u/s 87A is available up to income of Rs. 5,00,000 in new regime.
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
