Under the new tax regime of the Income-tax Act, 2025, as applicable for tax year 2026–27, what is the…
The total-income threshold for the full rebate under the new tax regime is ₹12 lakh for an eligible resident individual. Under the Income-tax Act, 2025, the rebate is…
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Under the new tax regime of the Income-tax Act, 2025, as applicable for tax year 2026–27, what is the maximum total income for an eligible resident individual, whose income is taxed only at ordinary slab rates, to receive the full income-tax rebate, excluding marginal relief?
Answer and explanation
Correct answer B
The total-income threshold for the full rebate under the new tax regime is ₹12 lakh for an eligible resident individual. Under the Income-tax Act, 2025, the rebate is limited to the lower of the relevant income tax payable and ₹60,000. Tax on income subject to special rates is outside this full-rebate calculation.
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Jammu & Kashmir and Ladakh SET (JKSET/LASET)