Marginal Relief vs. Rebate Under Section 87A of the Income Tax Act, 1961

The Rebate u/s. 87A reduces tax burden for low-income taxpayers, whereas marginal relief ensures that the tax does not exceed the excess taxable income over the rebate threshold. With the Budget 2025 announcements, significant changes have been introduced to tax … Continue reading Marginal Relief vs. Rebate Under Section 87A of the Income Tax Act, 1961