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Taxable limit for huf

This query is : Resolved 

What is Taxable limit of Income for fy 2020-2021 for Huf and Individual? Are both have same limits?

At present, the maximum amount not chargeable to tax under IT act for HUF and individuals below 60 years of age is Rs. 2,50,000/-

Is Tax rebate available for Individual and Huf whose Income is above 2.5 Lakhs?

Only to individuals....
Not to HUF...

How much Tax rebate to individuals?

You can claim an income tax rebate under section 87A if your total income does not exceed Rs 5 lakh in a financial year. Your income tax liability becomes nil after claiming the rebate under section 87A. (i.e. maximum amount Rs. 12,500/-)



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