Rebate Under Section 87a For Ay 2024-24. Under the old tax regime, this rebate is available for those with a total income up to rs 5 lakh, and. Section 87a provides a tax rebate to reduce the net tax payable to nil for eligible taxpayers.

Understanding how the rebate has been reduced by rs 5000. Section 87a provides a tax rebate to reduce the net tax payable to nil for eligible taxpayers.