By aartimehra184@gmail.com 
New income tax regime calculation
If you have a net taxable income of Rs 12 lakh after standard deductions, you are eligible for the Rs 60,000 rebate under Section 87A.
Although zero tax applies to income up to Rs 5 lakh under the rebate, income from Rs 5 lakh to Rs 12 lakh is still taxed as per the new regime. The rebate of Rs 60,000 reduces your tax liability significantly, but the total tax payable will still be Rs 8,750.