Tax Rebate U/S 87a For Ay 2024-25 In India. No tax rebate is being given if you have sold mutual fund or shares and earned short term capital gains.  — section 87a provides a tax rebate to reduce the net tax payable to nil for eligible taxpayers.

5.00 lacs for the old tax regime and within rs.7.00 lacs for the new tax regime.  — section 87a of the income tax act provides a rebate for resident individuals whose total income does not exceed a specified threshold.