Rebate of rs 5000
This query is : Resolved
03 March 2016
As per the recent budget, persons whose total income not exceeding Rs 5 lacs will get a rebate of Rs 5000. My query is that their tax liability will be only Rs 2500 (being 250000*10%). Still will they get rebate of Rs 5000?
03 March 2016
No, because the phraseology used is such income tax or 5,000 whichever is less.
03 March 2016
least of the two, will be treated as rebate.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
OR add as source on Google news
- ITR 3 VALIDATION
- Acquisition of a society by a company
- Brokage income from sale and purchase of property
- EPF withdrawal before 5 years and Disclosure in ITR-2
- Clarification on ITR 3: Is Sl. No. 64 required for 44ADA income?
- ITC Utilization on vehicle repair
- Transfer of partnership interest in LLP
- FORM 115BAC
- Investment guidance for NRI
- INTEREST ON SB ACC INCOME TAX
- 2.25 CRORE TRADER, NO CASH TRANSACTIONS,3CD APPLICABLE?
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- GST on Restaurant service
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
- Switch over to Composition Scheme
- Gstr 9 and itc
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
OR add as source on Google news
CAclubindia
