Income tax rebate u/s 87A when total income exceeds 7 lacs

This discussion explores the eligibility of a Non-Resident Indian (NRI) for the Section 87A income tax rebate for FY 2023-24, particularly when their total income surpasses ₹7 lakhs. While the rebate is generally for resident individuals, the net taxable income exceeding the threshold is a key factor. The thread also touches upon tax treatment for NRIs holding NRO assets and clarifies that the rebate applies to net taxable income, regardless of residential status if the threshold is met.