Rebate of 2000

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prakash praku

prakash praku (Querist)

11 June 2014 for claimang rebate of 2000 the income after deducting 80c of 100000 need to be <500000..is it correct

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

11 June 2014 it is gross total income before deduction that needs to be less then 5 lakhs for claiming sec 87A dedcution.

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Ganeshbabu K

Ganeshbabu K (Expert)

11 June 2014 Yes,you are correct,

For
claiming Rebate u/s 87A
.
.
total income after deducting Chapter VIA deductions if any should be not more than 5 lakhs
.
for more quries refer my post,

https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.U5gLO_QW11a

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prakash praku

prakash praku (Querist)

11 June 2014 if total income after chapter vIA deduction is 480000 then what will be the tax payable

Ganeshbabu K

Ganeshbabu K (Expert)

11 June 2014 Assuming Assesse is individual and below 60 years AND NOT HAVING ANY TDS,
.
.
Tax=(480000-200000)*10%
=28000
Less:87A=2000
.
TAX PAYABLE=26000=A
CESS:@3%=B
interest 234B,234C if applicable=C
.
.
payable is A+B+C
.
.
FILL DETAILS IN ITR AND CALUCULATE YOU WILL GET FIGURE

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