Rebate U/S 87a For Ay 2024-21. However, no 87a rebate will be available if your total income for the fiscal is higher than rs. Under section 87a you can get a maximum tax rebate of rs 12,500 under the old tax regime and up to rs 25,000 under the new tax regime.

The government had announced the tax rebate. Itr 1 form is filed by the taxpayers and the individuals being a resident (other than not ordinarily resident) having total income up to inr 50 lakhs, having.