Section 87A rebate
Regulation & taxA rebate that reduces tax to nil below a threshold of taxable income.
In plain terms
Why someone earning under about ₹12 lakh pays no tax in the new regime despite the slabs suggesting otherwise.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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