From which assessment year rebate u/s 87A was enhanced from ₹2500 to ₹12500? What is the taxable income limit to claim it?
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Quick Summary
The rebate under section 87A was enhanced from £2,500 to £12,500 from Assessment Year 2020-21. To claim this rebate, your taxable income must not exceed £5 lakhs. Ensure your Gross Total Income (GTI) is below this threshold to benefit from the increased tax relief.