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Income Tax: What is rebate under 87A which enables taxpayers earning upto ₹12 lakh to claim zero tax? An explainer

3 months ago 32
If you have seen the latest tax rates, you must have noticed that there is 5 percent tax on income between ₹4 to 8 lakh and 10 percent tax on the income between ₹8 to 12 lakh. When there is no tax for income up to ₹12 lakh, why do these slabs suggest otherwise? We explain the reason here
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