Rebate of 2000
This query is : Resolved
11 June 2014
for claimang rebate of 2000 the income after deducting 80c of 100000 need to be <500000..is it correct
11 June 2014
it is gross total income before deduction that needs to be less then 5 lakhs for claiming sec 87A dedcution.
Message likes :
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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
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
Message likes :
1 times
11 June 2014
if total income after chapter vIA deduction is 480000 then what will be the tax payable
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
.
.
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
Message likes :
1 times
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