Hello All,
Is rebate under section 87A is applicable in New Tax Regime ???
6 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 25 March 2021
Yes rebate u/s 87A is available under new regime
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 26 March 2021
Individuals having taxable income of up to Rs 5 lakh will be eligible for tax rebate under section 87A up to Rs 12,500, thereby making zero tax payable in the new tax regime.
Kapadia Pravin
(17264 Points)
Replied 26 March 2021
Section 87A doesn't apply to new regime of tax slabs.
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 26 March 2021
Yes rebate is available even if you chose new tag regime.
You can try to same using the tax calculator option also on income tax portal.
Kamal Verma
(Financial advisor)
(589 Points)
Replied 26 March 2021
Yes rebate u/s 87A is available up to income of Rs. 5,00,000 in new regime.
Recent Topics
- AUDITOR APPOINTMENT in case of resignation
- TDS on rent in joint agreement - 2 owners
- GST rate on Courtesy Car given on Rent to Director
- Demat account query
- TDS on transfer amount from NRO to NRE
- Capital Goods purchases for wind plant
- Career Switch from Mechanical Engineering to Finan
- TDS on Inoperative PAN for Salary
- GST new registration after Suo motto cancellation
- 14th May 2025 & 48/2025-CENTRAL TAX -Ten Year
Related Threads
CAclubindia
