For rebate u/s 87a

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vivek goyal (Querist)
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14 December 2014 sir i want to know which rebate is given under section 87A of rs 2000 it is available for senior citizen whose age 60 yr plus or not... if available then the amount is exempt to him is 270000

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 December 2014 Yes available to Senior Citizen as well/

87A. An assessee, being an individual resident in India, whose total income does not exceed five hundred thousand rupees, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of two thousand rupees, whichever is less.

Rupesh Jain

Rupesh Jain (Expert)
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15 December 2014 THIS AVAILABLE TOS ENIOR CITIZEN.
AND TAXABLE INCOME IS BELOW RS. 500000/-

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