New Delhi, April 26 -- All Indian taxpayers are required to file their income tax returns (ITR) and while the e-filing process has become quicker and easier over the years, the process can be daunting for first-time filers. Here is a breakdown of what rebate is offered and how you can apply for it.

Rebate reduces tax payable by deducting a fixed amount from the calculated tax for middle to low-income earners.

Under the old regime, a rebate of Rs.12,500 is allowed for an income up to Rs.5 lakhs, while the new tax regime allows rebate of Rs.60,000 for income up to Rs.12 lakhs.

Notably, unlike income tax exemptions and deductions, rebate under Section 87A is to be claimed by individual taxpayers from the total tax payable within the 10% t...