Marginal Relief u/s 87A for New Tax Regime u/s 115BAC(1A)

Marginal Relief u/s 87A for New Tax Regime u/s 115BAC(1A): Presently, rebate is allowed u/s 87A of Rs. 12,500/- in old regime of Income Tax, if any resident individual whose total income during the previous year does not exceed Rs. 5,00,000. Rebate is available only to the extent of Rs.12,500, and if total income exceeds Rs. 5,00,000 no rebate will be available.