Relief under section 87a

This query is : Resolved

surinder singh (Querist)
Follow

17 January 2014 Is Relief under Section 87A is available to All individuals (less than 60 years, Sr Citizen or V Sr Citizen)

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

17 January 2014 It is available to all irrespective of age

AVTAR SINGH

AVTAR SINGH (Expert)
Follow

17 January 2014 The individual must be resident in India, who is in lower income bracket, i.e. having total income not exceeding Rs 5,00,000/-. The amount of rebate is Rs 2000/- or the amount of tax payable, whichever is lower. However, V. Sr. Citizens cant avail benefit of section 87A because their income up to Rs.500,000 is already exempt.

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

18 January 2014 Yes available to senior citizen also if their total income not exceeded 5 laks
.
.
However 87A not available to super senior citizen as his total income up to 5 lakhs is already fully exempted
.
.
Refer below post for more
.
.
https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now