{"id":118394,"date":"2023-09-21T11:38:49","date_gmt":"2023-09-21T06:08:49","guid":{"rendered":"https:\/\/legalwindow.in\/?p=118394"},"modified":"2023-09-26T11:39:17","modified_gmt":"2023-09-26T06:09:17","slug":"section-87-a-in-income-tax-act-1961","status":"publish","type":"post","link":"https:\/\/www.legalwindow.in\/blog\/section-87-a-in-income-tax-act-1961\/","title":{"rendered":"Understanding Rebate Under Section 87 A in Income Tax Act 1961"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-118405 size-full\" src=\"https:\/\/legalwindow.in\/wp-content\/uploads\/legal-window-content-image-4.png\" alt=\" Section 87 A in Income Tax Act 1961\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/legal-window-content-image-4.png 1200w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/legal-window-content-image-4-600x315.png 600w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/legal-window-content-image-4-300x158.png 300w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/legal-window-content-image-4-1024x538.png 1024w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/legal-window-content-image-4-768x403.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The Income Tax Act of 1961 establishes the many provisions and regulations that govern India&#8217;s taxation system. Section 87 A, for example, provides a rebate to individual taxpayers based on their income and tax liability. This article will deal with <\/span><b>Section 87 A of the Income Tax Act, 1961<\/b><span style=\"font-weight: 400;\"> its significance, and how it affects taxpayers.<\/span><\/p>\n<h2><b>Contents<\/b><\/h2>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#understanding\"><span style=\"font-weight: 400;\">Understanding Section 87 A<\/span><\/a><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#how\"><span style=\"font-weight: 400;\">How much is the rebate permitted under Section 87A?<\/span><\/a><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#rebate\"><span style=\"font-weight: 400;\">Rebate under Section 87A<\/span><\/a><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#amount\"><span style=\"font-weight: 400;\">Amount of Rebate<\/span><\/a><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#procedures\"><span style=\"font-weight: 400;\">Procedures for claiming a tax rebate under Section 87A<\/span><\/a><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#implications\"><span style=\"font-weight: 400;\">Implications and Impact<\/span><\/a><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#things\"><span style=\"font-weight: 400;\">Things to keep in mind while applying for a Section 87A rebate<\/span><\/a><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#end\"><span style=\"font-weight: 400;\">End Note<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"understanding\"><b>Understanding Section 87 A<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Section 87 A of the <\/span><a href=\"https:\/\/incometaxindia.gov.in\/pages\/acts\/income-tax-act.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Income Tax Act 1961<\/span><\/a><span style=\"font-weight: 400;\"> went into effect in the fiscal year 2013\u20132014. The vision of the provision is to give some relief to less-income people. But there are some requirements to qualify for tax credit.<\/span><\/p>\n<h2 id=\"how\"><b>How much is the rebate permitted under Section 87A?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Those individuals with total taxable income which is up to Rs.7 lakh will be qualified for the following tax rebate under the new tax regime for the fiscal year 2023-24, Those are as following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">25,000 rupees or the applicable or appropriate tax, whichever is less.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is the same as the previous tax structure of Rs.12,500.<\/span><\/li>\n<\/ul>\n<h2 id=\"rebate\"><b>Rebate under Section 87A Income Tax, 1961<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Calculate your total gross income and subtract deductions from Sections <\/span><a href=\"https:\/\/incometaxindia.gov.in\/_layouts\/15\/dit\/Pages\/viewer.aspx?grp=Act&amp;cname=CMSID&amp;cval=102120000000081010&amp;searchFilter=%5b%7b%22CrawledPropertyKey%22%3a1%2c%22Value%22%3a%22Act%22%2c%22SearchOperand%22%3a2%7d%2c%7b%22CrawledPropertyKey%22%3a0%2c%22Value%22%3a%22Income-tax+Act%2c+1961%22%2c%22SearchOperand%22%3a2%7d%2c%7b%22CrawledPropertyKey%22%3a29%2c%22Value%22%3a%222023%22%2c%22SearchOperand%22%3a2%7d%5d&amp;filterBy=S&amp;optionalFilter=80&amp;k=80&amp;IsDlg=0\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">80C<\/span><\/a><span style=\"font-weight: 400;\"> to <\/span><a href=\"https:\/\/incometaxindia.gov.in\/_layouts\/15\/dit\/Pages\/viewer.aspx?grp=Act&amp;cname=CMSID&amp;cval=102120000000081076&amp;searchFilter=%5b%7b%22CrawledPropertyKey%22%3a1%2c%22Value%22%3a%22Act%22%2c%22SearchOperand%22%3a2%7d%2c%7b%22CrawledPropertyKey%22%3a0%2c%22Value%22%3a%22Income-tax+Act%2c+1961%22%2c%22SearchOperand%22%3a2%7d%2c%7b%22CrawledPropertyKey%22%3a29%2c%22Value%22%3a%222023%22%2c%22SearchOperand%22%3a2%7d%5d&amp;filterBy=S&amp;optionalFilter=80&amp;k=&amp;IsDlg=0\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">80U<\/span><\/a><span style=\"font-weight: 400;\">. If it is less than Rs 5 lakh, you are <\/span><b>eligible for a tax rebate<\/b><span style=\"font-weight: 400;\">, which means that the full tax up to Rs 12500 would be deducted under <\/span><a href=\"https:\/\/incometaxindia.gov.in\/_layouts\/15\/dit\/Pages\/viewer.aspx?grp=Act&amp;cname=CMSID&amp;cval=102120000000081084&amp;searchFilter=%5b%7b%22CrawledPropertyKey%22%3a1%2c%22Value%22%3a%22Act%22%2c%22SearchOperand%22%3a2%7d%2c%7b%22CrawledPropertyKey%22%3a0%2c%22Value%22%3a%22Income-tax+Act%2c+1961%22%2c%22SearchOperand%22%3a2%7d%2c%7b%22CrawledPropertyKey%22%3a29%2c%22Value%22%3a%222023%22%2c%22SearchOperand%22%3a2%7d%5d&amp;filterBy=S&amp;optionalFilter=87&amp;k=&amp;IsDlg=0\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Section 87A<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Section 87A <\/span><b>income tax rebate<\/b><span style=\"font-weight: 400;\"> assists taxpayers in reducing their income tax bill. You are eligible to claim the refund provided your total income, after Chapter VIA deductions, does not exceed Rs 5 lakh in a fiscal year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the new tax regime (effective for fiscal year 2023-24), an <\/span><b>income tax rebate<\/b><span style=\"font-weight: 400;\"> of Rs 7 lakh has been implemented.<\/span><\/p>\n<p><b>Also, read: <\/b><a href=\"https:\/\/legalwindow.in\/tax-saving-other-than-section-80c\/\" target=\"_blank\" rel=\"noopener\"><b>Exploring Tax Saving Options Other than Section 80C of the Income Tax Act, 1961<\/b><\/a><\/p>\n<h2 id=\"amount\"><b>Amount of Rebate<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The amount of the <\/span><b>income tax rebate<\/b> <b>under Section 87 A<\/b><span style=\"font-weight: 400;\"> is subject to change based on the Finance Minister&#8217;s annual modifications to the Union Budget. The amount of the Section 87A refund for <\/span><b>FY 2023-24<\/b> <b>(AY 2024-25<\/b><span style=\"font-weight: 400;\">) has been changed under the new income tax regime. A resident would earn a tax advantage of Rs 25,000 if their taxable income is up to Rs 7,00,000. The former tax structure, which was 12,500 for income up to Rs 500,000, is still in effect.<\/span><\/p>\n<h2 id=\"procedures\"><b>Procedures for claiming a tax rebate under Section 87A of Income Tax Act, 1961<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Determine your gross total income for the fiscal year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce your tax deductions for charitable contributions, investments, and so forth.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Calculate your total income after deducting your tax deductions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In ITR, declare your gross income and tax deductions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For Rs 7,00,000 as the taxable income, the residents will get a tax benefit of Rs 25,000. But, as per the earlier tax structure as of Rs 500,000, the tax benefit will be Rs. 25000 as per the new notification.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For the fiscal year 2022-23, the maximum reimbursement under section 87A is Rs 12,500.<\/span><\/li>\n<\/ul>\n<h2 id=\"implications\"><b>Implications and Impact<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Individual taxpayers face major consequences as a result of the <\/span><b>income tax rebate under Section 87 A<\/b><span style=\"font-weight: 400;\">. It helps low-income people by cutting their overall tax liability. This can result in more disposable income, allowing them more financial flexibility and enhancing their level of living.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, the <\/span><b>income tax rebate<\/b><span style=\"font-weight: 400;\"> encourages more people to follow tax requirements. By providing tax relief, the government encourages people to pay their taxes on time and prevents tax evasion.<\/span><\/p>\n<h2 id=\"things\"><b>Things to keep in mind while applying for a Section 87A rebate<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-118400 size-full\" title=\"Section 87 A in Income Tax Act 1961\" src=\"https:\/\/legalwindow.in\/wp-content\/uploads\/Screenshot-2023-09-24-233155-today.png\" alt=\"Section 87 A in Income Tax Act 1961\" width=\"497\" height=\"431\" srcset=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Screenshot-2023-09-24-233155-today.png 497w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Screenshot-2023-09-24-233155-today-300x260.png 300w\" sizes=\"auto, (max-width: 497px) 100vw, 497px\" \/><\/p>\n<p><b>Also, read: <\/b><a href=\"https:\/\/legalwindow.in\/how-to-save-income-tax-in-fy-2023-24\/\" target=\"_blank\" rel=\"noopener\"><b>A Guide on How to Save Income Tax in FY 2023-24?<\/b><\/a><\/p>\n<h2><a href=\"https:\/\/legalwindow.in\/income-tax-return-filing\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-113133\" src=\"https:\/\/legalwindow.in\/wp-content\/uploads\/Get-your-IT-Returns-Filed-by-Expert.png\" alt=\"\" width=\"1000\" height=\"200\" srcset=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-IT-Returns-Filed-by-Expert.png 1000w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-IT-Returns-Filed-by-Expert-600x120.png 600w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-IT-Returns-Filed-by-Expert-300x60.png 300w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-IT-Returns-Filed-by-Expert-768x154.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/h2>\n<h2 id=\"end\"><b>End Note<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><b>income tax rebate<\/b><span style=\"font-weight: 400;\"> offered <\/span><b>under Section 87 A<\/b> <b>of the Income Tax Act of 1961<\/b><span style=\"font-weight: 400;\"> is critical in decreasing the tax burden on lower-income individuals. By providing this assistance, the government encourages people to comply with tax laws while also increasing their disposable income. While there are several restrictions and complaints, the provision remains an important step toward developing a fairer and more equitable taxation system in India.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In case of any query regarding the<\/span> <b>Rebate Under Section 87 A in Income Tax Act 1961<\/b><span style=\"font-weight: 400;\">, free to connect with our legal experts at\u00a0<\/span><a href=\"https:\/\/legalwindow.in\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Legal Window<\/span><\/a><span style=\"font-weight: 400;\">\u00a0at\u00a0<\/span><b>72407-51000.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Income Tax Act of 1961 establishes the many provisions and regulations that govern India&#8217;s taxation system. Section 87 A, for example, provides a rebate to individual taxpayers&hellip;<\/p>\n","protected":false},"author":4,"featured_media":118407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-118394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Understanding Rebate Under Section 87 A in Income Tax Act 1961 &#187; Legal Window<\/title>\n<meta name=\"description\" content=\"Section 87 A in Income Tax Act 1961 establishes the many provisions and regulations that govern India&#039;s taxation system.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalwindow.in\/blog\/section-87-a-in-income-tax-act-1961\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Section 87 A in Income Tax Act 1961\" \/>\n<meta property=\"og:description\" content=\"Section 87 A in Income Tax Act 1961 establishes the many provisions and regulations that govern India&#039;s taxation system.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legalwindow.in\/blog\/section-87-a-in-income-tax-act-1961\/\" \/>\n<meta property=\"og:site_name\" content=\"Legal Window\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/legalwindow.in\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-21T06:08:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-26T06:09:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/legal-window-content-image-4.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CS Garima Kothari (B.COM, MBA)\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CS Garima Kothari (B.COM, MBA)\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/section-87-a-in-income-tax-act-1961\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/section-87-a-in-income-tax-act-1961\\\/\"},\"author\":{\"name\":\"CS Garima Kothari (B.COM, MBA)\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#\\\/schema\\\/person\\\/a7d792fb3d624b37c80fc19d03e265e4\"},\"headline\":\"Understanding Rebate Under Section 87 A in Income Tax Act 1961\",\"datePublished\":\"2023-09-21T06:08:49+00:00\",\"dateModified\":\"2023-09-26T06:09:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/section-87-a-in-income-tax-act-1961\\\/\"},\"wordCount\":713,\"publisher\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/section-87-a-in-income-tax-act-1961\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/wp-content\\\/uploads\\\/LW-FIMG-3.png\",\"articleSection\":[\"Income Tax\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/section-87-a-in-income-tax-act-1961\\\/\",\"url\":\"https:\\\/\\\/www.legalwindow.in\\\/blog\\\/section-87-a-in-income-tax-act-1961\\\/\",\"name\":\"Understanding Rebate Under Section 87 A in Income Tax Act 1961 &#187; 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