Rebate


Discount on Tax is called Rebate
It is reduced from Tax
If income is between 250000-500000,then 12500 Maximum Rebate
Note
Rebate cannot be more than tax

 

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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.