Rebate u/s 87a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2014 Please tell me that while filing online automatically rebate the tax of Rs.305 in itr-4. as per tax slab after 2 lakhs 10% is applicable. my taxable income is 203050 in future IT department they ask for the rebate tax amount or what.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 August 2014 Rebate amount u/s 87A will be automatically calculated by ITR. Since your Taxable Income is Rs 203050 you are not required to pay any Tax.

Rupesh Jain

Rupesh Jain (Expert)
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02 August 2014 it is u/s 87A if your taxable income is below rs. 500000/- then up to rs. 2000/- tax rebate will be allow.

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