Tax rebate on an income of up to ₹7 lakhshas been introduced under the new tax regime. This means that taxpayers with an income of up to ₹7 lakhs can claim all the tax paid(Yes you need to file ITR)! Standard deduction: Salary income: ₹50,000standard deduction under the new ...
Income tax rebate As per the new income tax regime for FY 2023-24 (AY 2024-25), the rebate under Section 87A has been increased from Rs. 5 lakhs to Rs. 7 lakhs. Thus, individuals with a net taxable income of up to Rs. 7 lakh can avail tax rebate u/s 87A under the new tax...