For rebate u/s 87a
This query is : Resolved
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
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.
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.
15 December 2014
THIS AVAILABLE TOS ENIOR CITIZEN.
AND TAXABLE INCOME IS BELOW RS. 500000/-
AND TAXABLE INCOME IS BELOW RS. 500000/-
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