Rebate u/s 87a
This query is : Resolved
17 April 2014
after the calculation of LTCG and STCG I calculated total income .. the total income s (rs.297000-250000) *15% as per ay 2014-15 and added cess there s a addition of rs. 2000 as rebate under sec 87A. how s rebate calculated ?? pls guide me
CA Jitender Sharma
(Expert)
17 April 2014
Total income xxxxxx
(income from all heads)
less
deductions u/c VI xxxxxx
total taxable income
(must be less than 5 lakh)
compute tax xxxx
less rebate (max 2000) xxxx
balance tax payable
add cess and shec
total tax liability
(income from all heads)
less
deductions u/c VI xxxxxx
total taxable income
(must be less than 5 lakh)
compute tax xxxx
less rebate (max 2000) xxxx
balance tax payable
add cess and shec
total tax liability
Rupesh Jain
(Expert)
17 April 2014
yes replay is same as jitender sharma
this deduction available if you taxable income is below rs. 5,00,000/- otherwise this deduction not available.
this deduction available if you taxable income is below rs. 5,00,000/- otherwise this deduction not available.
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