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Transcript

How to Calculate Rebate What is Rebate? Discount on Tax is called Rebate It is reduced from Tax Amount of Rebate in FY 2019 20 If income is between 250000 500000, then 12500 Maximum Rebate Note: Rebate cannot be more than tax Example Income Tax Rebate Net Tax 500000 600000 400000 200000 12500 32500 7500 0 12500 0 0 32500 7500 0 0 0 If income is between 250000 500000, then 12500 Maximum Rebate Rebate cannot be more than tax

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.