87a under income tax rebate
This query is : Resolved
07 July 2019
Respected Sir
Please be clarify the 87A under income tax, what is this and how it come to use while in assessing the individual income tax calculation . Just all are saying no income tax up to 5 Lakhs. but in slab up to 250000/- no income tax that is why little bit confusion. request to solve the confusion.
Thanking you
Yours faithfully
Srinivasa Joshi.
Please be clarify the 87A under income tax, what is this and how it come to use while in assessing the individual income tax calculation . Just all are saying no income tax up to 5 Lakhs. but in slab up to 250000/- no income tax that is why little bit confusion. request to solve the confusion.
Thanking you
Yours faithfully
Srinivasa Joshi.
07 July 2019
1. Tax slab is not changed.
2. Tax on 5,00,000 is Rs. 12,500 and maximum rebate u/s 87A is 12,500, hence
no tax is payable on 5,00,000.
2. Tax on 5,00,000 is Rs. 12,500 and maximum rebate u/s 87A is 12,500, hence
no tax is payable on 5,00,000.
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