Understanding the Basics of Income Tax Rebate: A Guide for Taxpayers
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Every income-earning individual or business in India is required to pay income tax. The Income Tax Act of India regulates taxpayers. This tax is paid to the central government and is used for the development of the nation. Every year, during the Union Budget, the government releases the latest regulations based on which taxpayers can calculate their income tax. These updates are based on the current situation of the economy. They provide some attractive benefits to taxpayers that can help them lower the tax burden, especially for those taxpayers that fall in the lower income tax brackets. An Income Tax Rebate is one such benefit.

What is an Income Tax Rebate?

Section 87A of the Income Tax offers a rebate to specific taxpayers that can help them lower their income tax liability. A rebate is offered when the taxpayer’s total taxable income falls above the basic exemption limit. The government offers a reduction in tax if the taxpayers meet specific conditions.

The rebate, as per Section 87A, is offered based on the total taxable income of the eligible taxpayers.

Who is Eligible to get the Income Tax Rebate Under Section 87A?

The following taxpayers are eligible for the rebate under section 87A:

  1. Individual taxpayers
  2. Resident of India
  3. Below 80 years of age
  4. Total taxable income (after availing deductions of Chapter VI) is Rs. 5 lakhs or less.
The regulations of Income Tax Rebate under Section 87A apply to taxpayers who have opted for the new income tax regime as well. However, the amount of rebate under the new income tax regime will be slightly different in the upcoming financial year 2023-24.

How Much Rebate is Allowed Under Section 87A?

The Union Budget may contain detailed updates on how much rebate is allowed in a particular financial year. As per the Union Budget of 2023, the rebate allowed under Section 87A is different for the old and new income tax regimes.

Rebate Under the Old Income Tax Regime

The tax slabs for an individual under 60 years of age as per the old income tax regime are as follows:

Total Taxable Income Income Tax Rate
Up to Rs. 2,50,000 NIL
Rs. 2,50,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
More than Rs. 10,00,000 30%


If the total taxable income of the taxpayer is Rs. 5,00,000 or less, they are eligible for the rebate under section 87A. This means that even though they fall in the first taxable slab of 5% income tax, they will receive a rebate which will reduce their income tax liability.

The income tax liability for the purpose of assessing the rebate is computed after making all the available deductions under Chapter VI-A which include deductions under Section 80C, Section 80D and other common deductions available to taxpayers. The final taxable income has to be Rs. 5,00,000 or less.

Now, typically, the maximum tax liability for a taxpayer earning Rs. 5,00,000 is Rs. 12,500 (5% of Rs. 5,00,000 as per slab rates). Therefore, this entire tax amount will be offered as a rebate. The maximum income tax rebate will be lower of Rs. 12,500 or the actual income tax payable.

Also Read: Income Tax Returns: All you Need to Know Before Filing ITR

For example,
A taxpayer has a salary income of Rs. 6,00,000 after deducting the standard deduction available of Rs. 50,000. The taxpayer has made investments in fixed deposits as well as EPF and claims deductions of Rs. 1.5 lakh under Section 80C. Therefore, the total taxable income of the taxpayer is Rs. 4,50,000. As per the slab rates, the income tax payable will be Rs. 10,000 (Rs. 4,50,000 - Rs. 2,50,000 = Rs. 2,00,000 * 5%). Since the taxpayer meets all the eligibility criteria, this amount of Rs. 10,000 will be the rebate under Section 87A that the taxpayer can avail, and the net tax payable will be nil.

Rebate Under the New Income Tax Regime

The tax slabs under the new income tax regime are as follows:

Total Taxable Income Income Tax Rate
Up to Rs. 3,00,000 NIL
Rs. 3,00,000 to Rs. 6,00,000 5%
Rs. 6,00,000 to Rs. 9,00,000 10%
Rs. 9,00,000 to Rs. 12,00,000 15%
Rs. 12,00,000 to Rs. 15,00,000 20%
More than Rs. 15,00,000 30%


If the total taxable income of the taxpayer is Rs. 7,00,000 or less, they are eligible for the rebate under section 87A. This means that even though they fall in the first taxable slab of 5% income tax or part of the second taxable slab of 10%, they will receive a rebate which will reduce their income tax liability.

Now, typically, the maximum tax liability for a taxpayer under the new income tax regime earning Rs. 7,00,000 is Rs. 25,000 calculated as follows - 5% of Rs. 3,00,000 (Rs. 6,00,000 minus Rs. 3,00,000) plus 10% on Rs. 1,00,000 (Rs. 7,00,000 minus Rs. 6,00,000). Therefore, this entire tax amount will be offered as a rebate. The maximum income tax rebate will be lower of Rs. 25,000 or the actual income tax payable.

For example,
A taxpayer has a salary income of Rs. 6,50,000 after deducting the standard deduction available of Rs. 50,000. The total taxable income of the taxpayer is Rs. 6,50,000. As per the slab rates, the income tax payable will be Rs. 20,000, calculated as follows - 5% of Rs. 3,00,000 (Rs. 6,00,000 minus Rs. 3,00,000) plus 10% on Rs. 50,000 (Rs. 6,50,000 minus Rs. 6,00,000).

Since the taxpayer meets all the eligibility criteria, this amount of Rs. 20,000 will be the rebate under Section 87A that the taxpayer can avail, and the net tax payable will be nil.

Steps to Claim Rebate Under Section 87A

A taxpayer can follow the following steps to claim the rebate under Section 87A:

  1. Calculate the gross total income for a financial year.
  2. Calculate all the tax-saving investments made as per the rules of Chapter VI-A. For example, only Rs. 1,50,000 is allowed as deductions under Section 80C.
  3. Find out the total taxable income by reducing the amount in point 1 above with the amount calculated in point 2 above.
  4. If the taxpayer meets all the eligibility criteria, they have to declare the income and investments in their annual returns to claim the rebate. The rebate is automatically calculated on the online portal at the time of filing income tax returns.
  5. File the returns before the due date and enjoy the benefits of the rebate by earning above the income tax slab rate and still paying no income tax.

Factors to Consider Before Claiming Rebate Under Section 87A (with example)

  1. For taxpayers to claim an income tax rebate under Section 87A, the taxpayer does not have to calculate the health and education CESS. Since the rebate makes the tax payable as nil, there will be no CESS applicable.
  2. Super senior citizens, which refers to citizens above the age of 80, are not eligible for income tax rebate under Section 87A.
  3. The option of availing income tax rebate is also available in case the taxpayer files belated returns (filing returns after the due date to file annual returns).
  4. The income tax rebate cannot be adjusted income from long-term capital gains on equity shares and equity-oriented mutual funds (Section 112A).
For example, if a taxpayer under the old income tax regime has a salary income of Rs. 4,50,000, long-term capital gains from shares of a company of Rs. 2,00,000 and deductions under Chapter VI-A of Rs. 1,50,000, the taxable income as per slab rates will be Rs. 3,00,000 (Rs. 4,50,000 minus Rs. 1,50,000). As per Section 112A, the long-term capital gains on the equity shares will be taxed at 10% above an income of Rs. 1,00,000 (Rs. 1 lakh is the threshold). Therefore the rebate will be available for the income of Rs. 2,500 calculated as follows - 5% on Rs. 50,000 (Rs. 3,00,000 minus Rs. 2,50,000 as per slab rates).

However, the taxpayer will have to pay an income tax of Rs. 10,000 calculated as follows - 10% on Rs. 1,00,000 (Rs. 2,00,000 minus Rs. 1,00,000 as per section 112A). Health and education CESS would also be added to the income tax payable amount to arrive at the final income tax liability.

Also Read:New Income Tax Slabs and Rates FY 2023-24

Income Tax Rebate as per Section 87A for FY 2022-23 and 2021-22

Under the old and new tax regime, the amount of income tax rebate allowed under Section 87A for the financial year 2022-23 and 2021-22 is the same. If the total taxable income of the taxpayer is lower than Rs. 5,00,000, then the taxpayer is eligible for getting the income tax rebate (considering all other eligibility criteria are met). This taxable income is computed after deducting the investments and expenses under Chapter VI-A if the taxpayer availed the old tax regime. Therefore, the maximum income tax rebate that taxpayers can get for FY 2022-23 or FY 2021-22 is Rs. 12,500. Other conditions like being less than 80 years of age, not having income from long-term capital gains by selling equity shares or equity-oriented mutual funds, being a resident of the country, etc., remain unchanged in these financial years as well.

Income Tax Rebate as per Section 87A for FY 2020-21 and 2019-20

During the financial year 2020-21 and 2019-20, the same rules continue to apply as in the financial years 2022-23 and 2021-22. The maximum rebate was limited to Rs. 12,500 or actual income tax payable before CESS, whichever was lower. The eligibility criteria also remained unchanged.

Here is an example of how to compute the income tax rebate for a taxpayer who is above 60 years of age but below 80 years of age (senior citizen but not a super senior citizen).

The taxpayer is 70 years old and has an income of Rs. 3,50,000 from house property and an income of Rs. 1,50,000 from long-term capital gains from the sale of equity-oriented mutual funds. Now the slab rates for an individual taxpayer who is a senior citizen are slightly different from an individual taxpayer who is less than 60 years of age.

The tax slabs for an individual over 60 years of age but under 80 years of age are as follows:

Total taxable income Income Tax Rate
Up to Rs. 3,00,000 NIL
Rs. 3,00,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
More than Rs. 10,00,000 30%


Therefore, the computation for income tax rebate will be as follows:

An income tax rebate on the income of Rs. 3,50,000 can be availed.

Income tax payable = Rs. 2,500 calculated as follows - 5% on Rs. 50,000, which is Rs. 3,50,000 minus Rs. 3,00,000 (basic exemption limit).

The income tax rebate will only be allowed for this income, and the maximum income tax rebate will be lower of Rs. 12,500 or actual income tax payable, which is Rs. 2,500 in this case.

However, the income of Rs. 1,50,000 from long-term capital gains from the sale of equity-oriented mutual funds is not eligible for an income tax rebate. Therefore, the tax computed will be as per Section 112A, which allows an exemption of Rs. 1,00,000. Therefore, as per Section 112A, the tax payable will be Rs. 5,000, which is calculated as follows - 10% of Rs. 50,000 (Rs. 1,50,000 minus Rs. 1,00.000).

Therefore, the taxpayer will have to pay Rs. 5,000 plus health and education CESS as tax.

Income Tax Rebate as per Section 87A for FY 2018-19 and 2017-18

The income tax rebate in financial years 2018-19 and 2017-18 was much lower. The amount of income tax rebate that a taxpayer could claim was capped at Rs. 2,500. Therefore, only if the income tax payable on the income earned in these financial years did not cross Rs. 2,500 an income tax rebate was offered, and the taxpayer would have to pay nil tax. This means that if the total taxable income of the taxpayer was Rs. 3,00,000 or less, only then they would get an income tax rebate.

For the financial year 2016-17, an income tax rebate of Rs. 5,000 was allowed, and for earlier financial years, an income tax rebate of Rs. 2,000 was allowed.

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FAQs – Frequently Asked Questions


  • To calculate the total taxable income or total tax payable for the purpose of checking for income tax rebate eligibility, will the taxpayer have to add a surcharge ?

    A surcharge is a rate applied to the income tax payable of the taxpayer if the total taxable income crosses a certain threshold. It was introduced only to charge an additional tax on high-tax-paying individuals and businesses. If the surcharge is applicable to a taxpayer, it means that the income is high, and there is no question of being eligible for an income tax rebate.

  • Can NRIs get an income tax rebate ?

    The eligibility criteria for getting an income tax rebate under Section 87A clearly states that this option is only available to residents of India. Therefore, even if the NRI’s income is below the threshold limit to claim an income tax rebate, the NRI taxpayer cannot claim an income tax rebate.

  • If a taxpayer is eligible for an income tax rebate and has to pay zero tax, do they still have to file income tax returns ?

    As per the Income Tax Act, every citizen with a total annual income above the basic exemption limit has to file income tax returns. Therefore, the income tax payable amount is not the deciding factor in assessing whether a taxpayer should file income tax returns. To claim the benefit of the income tax rebate, the taxpayer must file income tax returns, declaring the income to show that the taxpayer is eligible for an income tax rebate. The income tax rebate is automatically calculated, and the taxpayer will not have to pay any tax while filing income tax returns.

  • Can an individual taxpayer claim an income tax rebate even if they have income from profession or business ?

    Yes, the income tax rebate can be claimed for income from profession or business. The eligibility criteria to claim an income tax rebate is as follows:
    • Resident of India
    • Individual taxpayer (not HUF or Partnership)

    Furthermore, only long-term capital gains from the sale of equity shares or equity-oriented mutual funds are not eligible for an income tax rebate.


  • How is Section 80C and other Chapter VI-A sections different from income tax rebate ?

    Chapter VI-A contains deductions offered to taxpayers to reduce their total taxable income. These are strategic investments or essential expenses that are allowed as deductions to lower the taxable income. An income tax rebate is offered if the total taxable income is below the threshold limit. Therefore, Chapter VI-A are investments or expenses made as part of tax planning to reduce the total taxable income. In contrast, an income tax rebate is offered to individual taxpayers with a total taxable income below the threshold limit.

 

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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.

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You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.

Use of Website in India

This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.

Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.

In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.

You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.

Third party websites

This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).

USE of APP

In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.

Postings and monitoring

The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.

Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.

We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.

If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com

Use of Cookies

You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.  

Facilities Changes and Discontinuation

The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.

ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.

Compliance with the Law

You agree that you will not:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
  • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
  • Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
  • You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.

Restrictions on Commercial Use or Resale

Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.

No Endorsements

All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.

Promotional Offers

You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

Charges for use of Website

There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).

No Endorsement

You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.

In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.

Electronic Communications

These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.

Assignment

You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.

Legal Disclaimers

The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.

The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.

Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.

No Solicitation

No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.

The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an  amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.

Statutory Disclosure

ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF.  Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.

Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.

Force Majeure

The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.

Indemnification

You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

No Waiver

The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Exclusive Agreement

You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.

Termination

Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.

Governing Law and Jurisdiction

The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.

These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.

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