As the Union Budget 2026-27 approaches, there is growing anticipation among taxpayers and tax experts that the central government could further expand the scope of the Section 87A rebate and increase ...
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Tax computation: Does Section 87A apply if my income is Rs 12 lakh, but total income exceeds the limit?
I am a resident individual with a total income of Rs 15 lakh for FY26, comprising: Rs 12 lakh from rent and interest income (taxable at normal slab rates), and Rs 3 lakh from long-term capital gains ...
Budget 2026-27 middle-class tax relief: Will Section 87A rebate be raised to Rs 15 lakh? (AI-generated image) Section 87A is a rebate available to resident individual taxpayers. Unlike deductions that ...
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