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22 mar 2023 · These bills provide rebates to eligible Montana taxpayers for 2021 individual income taxes (HB192) and for 2022 and 2023 property taxes paid on a principal residence (HB222). Visit the department’s webpage devoted to the rebates to learn more and see if you qualify.
3 lip 2024 · The rebate under Section 87A allows taxpayers to reduce their tax liability if their total income does not exceed Rs 5 lakh in the old regime and Rs 7 lakh in the new regime. The rebate amount is the lower of the income tax payable or Rs 25,000 under the new regime.
The Individual Income Tax Rebate amount depends on a taxpayer’s 2021 filing status and the amount of tax paid for 2021, which can be found on line 20 of the 2021 Montana Form 2. For those whose filing status was single, head of household, or married filing separately, the rebate will be either $1,250 or the line 20 amount, whichever is less.
15 cze 2024 · Rebate under Section 87A helps taxpayers to reduce their income tax liability. You can claim the said rebate if your total income, i.e. after Chapter VIA deductions, does not exceed Rs 5 lakh (under the old regime) in FY 2023-24.
The rebate is $675 or an amount not to exceed the property taxes paid on a principal Montana residence for tax year 2023. For example, if you paid $425 in property taxes on your principal Montana residence in 2023, you would receive a $425 property tax rebate.
26 wrz 2024 · Designed to ease the financial burden on low-income earners, this section offers a rebate to individuals with a total taxable income of up to ₹5 lakh under the old regime and ₹7 lakh under the new tax regime.
23 wrz 2024 · Under Section 87A, the maximum rebate limit is Rs. 12,500 under the old tax regime and Rs. 25,000 under the new tax regime. This rebate can only be claimed if the taxpayer’s taxable income does not exceed the prescribed limit for that financial year.
