The Budget 2025 has raised the threshold of rebate available under Section 87A from Rs 25,000 to Rs 60,000. The basic income exemption limit was also increased to Rs 4,00,000. However, those with annual income less than Rs 4 lakh and those earning between Rs 4 lakh and Rs 12 lakh are required to file their ITRs, lest they might come under the ambit of tax. Read on to know more about such conditions.
from Tax-Wealth-Economic Times https://ift.tt/tQwFYWv
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