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In Indian income tax, a rebate is a deduction from the total tax liability, while a deduction reduces the taxable income. Rebates are allowed under Section 87A of the Income Tax Act and are granted to individual taxpayers with total income below a specified threshold. The rebate amount is deducted from the total tax liability, resulting in a lower tax payable. Deductions, on the other hand, reduce the taxable income, thereby indirectly reducing the tax liability based on the applicable tax slab rates.