Income Tax Bill: Section 87A rebate changed! Now Zero Tax on ₹ 12 Lakh Salary? , Paisa Live | Income Tax Bill: Section 87A Rebate Changed! Now Zero Tax on ₹ 12 Lakh Salary?

In the Income Tax Bill, the government has made a big change in Section 87A. Now in the new tax system, there will be a discount of ₹ 60,000 on slab income of up to ₹ 12 lakh, but this discount will not be applicable to special incomes like STCG and LTCG. Also, the standard deduction has been increased to ₹ 75,000, which can cost income tax-free of up to ₹ 12.75 lakh. The exemption in the old tax system will remain the same. In this video, know the difference between the new and old tax system and which one you should choose.