Regarding income tax
This query is : Resolved
manisha sharma
(Querist)
23 March 2017
For section 87A ..exemption limite is 5000
For f.y.2016_17??
For f.y.2016_17??
CA Shubhanshu Jain
(Expert)
23 March 2017
For FY 2016-17 rebate of Rs. 5000 is available under section 87A
CA Gopal Somani
(Expert)
23 March 2017
Yes, Its 5000 for FY 2016-17
Section 87A of Income-tax Act, provide for a rebate of an amount equal to hundred per cent of such income-tax or an amount of Rs. 2000/- (Rs. 5000 from Financial Year 2016-17), whichever is less, from the amount of income-tax to an individual resident in India whose total income does not exceed five hundred thousand rupees.
Section 87A of Income-tax Act, provide for a rebate of an amount equal to hundred per cent of such income-tax or an amount of Rs. 2000/- (Rs. 5000 from Financial Year 2016-17), whichever is less, from the amount of income-tax to an individual resident in India whose total income does not exceed five hundred thousand rupees.
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