One of my friend (Sr. citizen) having a total income from sal+FDr int+Div is Rs. 657232 (after std ddn Rs.50000) and Rs.632232 (after std ddn Rs.75000). His total deductions under chapter VI-A is Rs.233730. He is also having STCG on shares Rs.177808. So his total income in old regime will be Rs.423502+177808. In new regime total income will be Rs.632232+177808. Will he get rebate under sec 87A in old and new regimes. Kindly give me how much tax he has to pay in old and new regimes.
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REBATE IN OLD AND NEW REGIME
Replies (1)
Rebate u/s 87A will not apply here.
Tax under old regime will be lower.
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