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Revised Tax Rebate under section 87A | Budget 2019 : This rebate was first introduced with Finance Act 2013. Since then it has been a point of constant amendments. The recent amendment in the section has been introduced by the Interim Budget 2019. It has given the benefit of tax amount upto Rs 12,500 for small taxpayers having annual taxable income upto Rs 5,00,000 (Five Lakhs). It means if a person is having an income after all deductions ranging upto Rs 5,00,000 then he is required to pay No Tax.SEE DETAILS
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