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Rebate under new sheme
what is the limit of income to be eligible for a rebate And what is The rebate amount under the new scheme of income tax act
Replies (1)
For the FY 2023-2024 (AY 2024-2025), the prescribed Income and rebate are as follows:
|
Tax Regime |
Taxable Income
|
Rebate
|
|
New Tax Regime |
Upto 7,00,000/- |
Upto 25,000/- |
|
Old Tax Regime |
Upto 5,00,000/- |
Upto 12,500/- |
For FY 2024-25. i.e. AY 2025-26.... No change under old regime, but for new Tax regime sec. 87A will get amended to maximun Rs. 20.000/-
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