Rebate u/s 87a
This query is : Resolved
23 February 2014
In the DT Module of Oct 2013, under dtaa chapter, rebate u/s 87A is availed, although it is omitted long back....
what to do ????
whether it is to be considered????
what to do ????
whether it is to be considered????
23 February 2014
Dear Charmi,
please refer to updated Act. 87A has been reintroduced wef 1 April 2014.
As on today it reads as:
"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."
please refer to updated Act. 87A has been reintroduced wef 1 April 2014.
As on today it reads as:
"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."
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