¹Rebate:- No IT uptill 12L or 12.75L (if salaried) but it shall be calculated from the scratch (of course past the Basic Exemption Limit of 4L) if the Income exceeds the previously prescribed threshold. ²MR:- Marginal Relief is the Tax relief from the additionally earned Income, which is just slightly beyond 12L only uptill 12.75L. [ Here the Additionally earned Income will be treated as Tax & the Tax won't be calculated from the scratch.] Example:- If the Income is 12.50L, the Additionally earned 50K would be fully be termed as "Tax to be paid" unlike 67,500 which would have been paid, had there been no MR. (Forgot to add the 3rd option, it'll be equal saving). That was all for Today. Thank you for Reading.✨ Found insightful? Share it with some1 who may need it. This is KhushJ & I'm on leave until the next post.