You are eligible to claim tax rebate under this
provision if you meet the following conditions:
- You must be a RESIDENT INDIVIDUAL; and
- Your Total Income, fewer Deductions, (under Section 80) is equal to or less than Rs 5,00,000.
- The rebate is limited to Rs 12,500. This means the total tax payable or Rs 12,500, whichever is lower, that amount will be the rebate under section 87A. [This rebate is applied to the total tax before adding the Education Cess (4%)]
