How to Calulate Rebate (FY 2019-20,AY 2020-21)

Last updated at April 16, 2024 by

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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

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.