Rebate 87a For Ay 2024-24. In budget 2023, the tax rebate for individuals has been increased to inr 25,000 which means individuals having taxable income up to inr 7,00,000 can claim. To make the new tax regime more attractive, the rebate under section 87a has been hiked to rs 25,000 for taxable income up to rs 7 lakh.

12,500 for resident individuals with taxable income up to rs. A resident individual (whose net income does not exceed rs.