Why i am not getting rebate under section 87a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2014 my income form salary is - 162000
income from business - 179373
income from os (interest)- 756
total - 342129
less deduction 80c and d -(26500)
net income - 315629
tds deducted u/s 194c - 8901

in this computation while filing return i am unable to get rebate under section 87a

pls help in the matter..

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 July 2014 sec 87A benefit is not available for those having business income as it only for salaried person upto 5 lakhs and int icnome upto 10,000

Vishnu Saboo

Vishnu Saboo (Expert)
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25 July 2014 i think there is some error.
you must get the benefit.
check whether ur PAN number is not of LLP, HUF, Company or partnership firm?
if ur PAN is for individual, i feel u must get the benefit.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 July 2014 Tushar - where does section 87A say so??? never heard about any such restriction.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 July 2014 Dear Querist,

kindly download a fresh ITR4 and refill. you are eligible for 87A deduction in full.

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Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2014 thank you all for reply..
that issue is resolved , i think issue was in utility..

Vishnu Saboo

Vishnu Saboo (Expert)
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28 July 2014 welcome, happy to help you.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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29 July 2014 sorry i gave the ans thinking for that non filling return and got mixed up with sec 87A.

it is allowed to any assessee whose total income is less then 5,00,000.

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