Tax rebate under Sec 87A makes income up to Rs. $5{,}00{,}000$ (old regime) effectively

Tax rebate under Sec 87A makes income up to Rs. $5{,}00{,}000$ (old regime) effectively
  1. tax-free
  2. taxed at $1\%$
  3. taxed at $5\%$
  4. taxed at $10\%$

Solution

Sec 87A rebate offsets tax up to Rs. $12{,}500$, making income up to Rs. $5L$ tax-free.

Asked in: MH-SSC-9

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