Section 87 A. Is exemption of 25 K up to total income of 7 lakhs available if no salary income

Is exemption of up to 25 K u/s 87 A applicable on income up to 7 lakhs in the new tax regime. This income does not include income from salary


Yes, rebate u/s 87A is available on income up to ₹7 lakhs. However, if you have any long-term capital gains from equity shares and equity mutual funds, those will not be eligible for the rebate.

Hope this helps!

What about short term capital gains? Will gains fall under 87 A?


Yes, rebate up to ₹25,000 is available on short-term capital gains.