What is the difference between rebate and marginal relief?
Government has clarified the difference between rebate and marginal relief in a list of frequently asked questions. Rebate is deduction from tax which is available to tax payers having income up to ₹12 lakh in new regime. Marginal relief ensures taxpayers having income marginally higher than ₹12 lakh don't pay tax more than the income in excess of ₹12 lakh.