Agricultural income u/s 87a rebate of rs. 2000/-

Save Share

This query is : Resolved

ramanamma (Querist)

13 March 2014 Hi
Friends
one of the assesse his total income excluding agricultural income not exceed Rs. 500000/-

Then assesse is eligible or not for Rebate U/s 87A.

Amol S Joglekar

Amol S Joglekar (Expert)

13 March 2014 Eligible for rebate if the income is taxable.

ramanamma

ramanamma (Querist)

13 March 2014 Sir
is it eligible that assessee both
Agricultural rebate and rebate u/s 87A.

Amol S Joglekar

Amol S Joglekar (Expert)

13 March 2014 yes, possible. Assessee can claim both rebates. (For a clear understanding, please provide the exact figures of income.)

Message likes : 2 times

Ganeshbabu K

Ganeshbabu K (Expert)

13 March 2014 you can avail 87A if taxable income not exceeds 5 lakhs
.
.
for more refer
.
.
https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UyGRtPQW11a

ramanamma

ramanamma (Querist)

13 March 2014 Assesse income details

Salary Net income Rs. 1,73,400
House property Nat income Rs. 4,23,304
Other source income Rs. 26,000

Agricultural income Net Rs. 29,30.431

Savings Rs. 18,020

ramanamma

ramanamma (Querist)

13 March 2014

sorry
house property net income Rs. 295600

Ganeshbabu K

Ganeshbabu K (Expert)

13 March 2014 can avail as taxable income is less than 5 lakh

Message likes : 1 times

ramanamma

ramanamma (Querist)

13 March 2014 That is both rebates are available ??

ramanamma

ramanamma (Querist)