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Rebate u/s 87a

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(Querist)
26 June 2014 INDIVIDUAL ASSESSEE HAVING INCOME AS BELOVE
NTI : 146752
SPECIAL RATE INCOME 15%: 20912

NORMAL TAX: NIL
TAX ON SPECIAL RATE: 3371

CAN THE PERSON IS ELIGIBLE TO GET REBATE U/S 87A?
IF THE PERSON DOES NOT HAVE TAX LIABILITY IN NORMAL RATE!
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CA Madhvi

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CA Madhvi (Expert)
26 June 2014 Yes any assessee is eligible for rebate u/s 87A whose net taxable income is less than 5 lakh.In present case net tax payable would be Rs.1371(3371-2000)
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Rupesh Jain

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Rupesh Jain (Expert)
26 June 2014 yes assesse taxable income is below Rs. 500000/- the he can claim the deduction u/s 87A of Rs. 2000/-.




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