Rebate u/s 87a
This query is : Resolved
26 June 2014
INDIVIDUAL ASSESSEE HAVING INCOME AS BELOVE
NTI : 146752
SPECIAL RATE INCOME 15%: 20912
NORMAL TAX: NIL
TAX ON SPECIAL RATE: 3371
CAN THE PERSON IS ELIGIBLE TO GET REBATE U/S 87A?
IF THE PERSON DOES NOT HAVE TAX LIABILITY IN NORMAL RATE!
NTI : 146752
SPECIAL RATE INCOME 15%: 20912
NORMAL TAX: NIL
TAX ON SPECIAL RATE: 3371
CAN THE PERSON IS ELIGIBLE TO GET REBATE U/S 87A?
IF THE PERSON DOES NOT HAVE TAX LIABILITY IN NORMAL RATE!
26 June 2014
Yes any assessee is eligible for rebate u/s 87A whose net taxable income is less than 5 lakh.In present case net tax payable would be Rs.1371(3371-2000)
26 June 2014
yes assesse taxable income is below Rs. 500000/- the he can claim the deduction u/s 87A of Rs. 2000/-.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- GST not cancelled by tenant
- Capital gain on sale and purchase of plot
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
