Section 87a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2015 Dear expert.
one my client. who is salary person having tax liability rs. 3500/-
and another who is running proprietorship business having tax liability rs 7800/-

Query is. details above mentioned can i take exemption rs 2000/- on my both of client as per sec.87a. plz. clrify.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 January 2015 http://taxguru.in/income-tax/rebate-section-87a-income-tax-act-1961.html

http://www.aubsp.com/2014/01/section-87a-individuals-tax-rebate.html

yes allowed to both since the total income does not exceed rs 5,00,000.

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2015 Dear sampat.
yes both my client having total income less than 500000/- and tax liability before Deduction of 87A is 7800/-
After Deduction 2000/- as per 87A. Tax liability will be 5800/-

is this correct.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 January 2015 yes correct, u can check this from link:

https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.VMsj3NKUdie