Income Tax Rebate 2024-25
Income Tax Rebate 2024-25. 7 lakhs are eligible for a complete tax rebate under the new regime, effectively paying zero tax. Resident individuals are also eligible for a rebate of up to 100% of income tax subject to a maximum limit depending on tax regimes as under:
Reduced the 19 per cent tax rate to 16 per cent. Tax liability will be nil.