Income Tax Calculation Examples (FY 2024-25)
Income Tax Calculation Examples.. Understand old tax regime and new tax regime slab rates with examples of income tax calculation, tax rebate
Tax Rebate under Section 87A
Zero Income Tax with Tax Rebate under Section 87A
Zero Income Tax with taxable income of Rs. 5 lakh or below in old tax regime and taxable income of Rs. 7 lakh or below in new tax regime..
No Income Tax up to 7.5 Lakh with Tax Rebate 87A
No income tax upto 7.5 Lakh in FY 2023-24. standard deduction of Rs. 50,000 and Tax Rebate of Rs. 25,000 makes your income tax as Zero..
Tax Rebate under Section 87A in Old & New Tax Regime
Tax Rebate under Section 87A is Rs. 12,500 and Rs. 25,000 under old and new tax regime for taxable income Rs. 5 lakh and Rs. 7 lakh respectively..