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Sec 87a it act

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28 July 2014 Clarification regarding income tax rebate Rs.2000 u/s 87A for the F.Y.2014-15

28 July 2014 What clarification do you need? Please elaborate.

Some points are as under:

1. Available to an INDIVIDUAL only.
2. The individual should be RESIDENT in India.
3. The total income of the individual should NOT exceed Rs. 5 lakhs.
4. The deduction is of an amount equal to the tax on income or Rs. 2,000 whichever is less.
5. EC & SHEC are to be added to the tax arrived at AFTER deduction u/s 87A.

In case of any other clarification reply.

28 July 2014 Rebate u/s 87A is available for FY 2014-15 as well. This rebate has not been withdrawn.




28 July 2014 Rebate is continued, you can claim it if ur total income is less than 5lac.



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