Rebate u/s 87
This query is : Resolved
CA Nikita Gadekar
(Querist)
14 July 2014
Assessee has 2employers during the previous year 2013-14. His income from 1st employer is around 5lacs and from second its 6lacs. He gets relief under sec87 of 2000bugs according to 1st employer. Will he get rebate u/s 87 now, since the total income now exceeds the maximum amount chargeable to tax?
14 July 2014
the ans is no as its exceeding rs 5 lakhs in aggrgate.
Deepti Asawa
(Expert)
14 July 2014
No, he can not get rebate.
Sandeep Dharar
(Expert)
14 July 2014
The salary from both employer will b clubbed and then computation will b done.
Sandeep Dharar
(Expert)
14 July 2014
And since the salary exceeds Rd. 5L hence no 87A rebate can b claimed.
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