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174 Points Posted on 01 February 2020
Sir, If one has got taxable income above 5 Lakhs, will he get tax rebate of 12500? My query is whether his tax will be calculated from 5 lac or from 2.5 lac as of now if he opts for new regime?
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On 01 February 2020 at 17:45 Report
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Studwnt
1141 Points Posted on 01 February 2020
No rebate if income more than 500000... tax to be calculated from 2.5
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On 01 February 2020 at 17:54
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174 Points Posted on 01 February 2020
Thanks madam.
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On 01 February 2020 at 18:03
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17264 Points Posted on 02 February 2020
New regime No rebate under 87A
Bcoz basic slab starts from 500000/-
(upto 5 lakhs income - no tax)
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On 02 February 2020 at 00:25
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student
178 Points Posted on 06 February 2020
For new regime also Tax is calculated from 250000 .
115BAC says upto 250000 -nil,
2.5 L - 5L - 5%
please read 115BAC for clarity purpose.

87A is still available for both old and new tax regime.
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On 06 February 2020 at 16:52


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