Deduction u/s 87a
This query is : Resolved
26 March 2014
A person who is senior citizen his gross income is Rs. 504000 and conveyance allowance is Rs. 9600. He is liable for 87A deduction or not.
Guest
Guest
(Expert)
26 March 2014
Ya he is eligible for a rebate of Rs2000 u/s 87 A provided this conveyance allowance is included in that 504000..The net income becomes 494400 (504000-9600) that is less than 5lakhs so rebate would be available for him..
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Supply through E-commerce Operators
- TDS Claim year
- Sales amount in Gstr1
- TDS Challan Code
- Relief u/s Section 89
- Rent lease agreement
- Taxation on LTCG for property sold after 24JUL2024
- Merchant Export Accounting
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
