How to set up the tax rebate under section 87A.
The interim budget for FY 2019-20 has introduced full tax rebate under section 87A for individuals earning a net taxable income upto Rs. 5 lakhs which means the maximum tax rebate limit under section 87A has been increased to Rs.12,500 for the qualified taxpayers from Rs. 2,500. However, in case **net taxable income of the taxpayer exceeds Rs. 5 lakh for AY 2020-21, the rebate under this section will be zero.
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