Relief u/s 87a while deducting tds
This query is : Resolved
10 March 2014
Can any one please guide me in applicability of section 87A (i.e. relief of Rs. 2000/- in case net income is below 5,00,000/-) for TDS. Can deduction u/s 87A be considered while deducting TDS u/s 192 or the same will be available at the time of filing of the return. I couldnt find any specific answer to that in the Act.
10 March 2014
Rebate u/s 87A can't be claimed while deducting tax, because tax deduction has to be done as per chapter XVII whereas rebate is covered in chapter VIII.
This is my observation, deliberation of readers is solicited.
This is my observation, deliberation of readers is solicited.
10 March 2014
yes it will be taken into condieration while cal tds u/s 192.
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