Deduction u/s 87a for fin year 2014-15
This query is : Resolved
arun laxman gaikwad
(Querist)
26 August 2014
Kindly advice :
Whether deduction u/s 87A (for assesses having taxable income below 5 lacs) is still available for cur fin year 2014-15 ?
Tax exemption enhanced from 2 lacs to 2.50 lacs after budget.
Shall we consider this 2000 extra credit over 2.50 lacs of basic exemption ?
Pls clear.
Regards
Arun
Whether deduction u/s 87A (for assesses having taxable income below 5 lacs) is still available for cur fin year 2014-15 ?
Tax exemption enhanced from 2 lacs to 2.50 lacs after budget.
Shall we consider this 2000 extra credit over 2.50 lacs of basic exemption ?
Pls clear.
Regards
Arun
26 August 2014
Dear Arun,
Rebate u.s 87A is available in FY 2014-15 also even though basic exemption limit has been increased.
Rebate u.s 87A is available in FY 2014-15 also even though basic exemption limit has been increased.
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