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About section 87a

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Querist : Anonymous (Querist)
22 February 2014 give details of u/s 87a for A.Y.2014-15.
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Manish Gurudasani

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Manish Gurudasani (Expert)
22 February 2014 Rebate under section 87A - A resident individual (whose net income does not exceed Rs. 5,00,000) can avail rebate under section 87A. It is deductible from income-tax before calculating education cess. The amount of rebate is 100 per cent of income-tax or Rs. 2,000, whichever is less.
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