Sec 87a and tax slab benefit availlble or not ordinary resi?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 July 2014
sec 87A and tax slab benefit availlble or not ordinary resident?
my client is not ordinary reident, his age is 60+.
what tax comes according A.Y. 2014-15?
urgent reply.
my client is not ordinary reident, his age is 60+.
what tax comes according A.Y. 2014-15?
urgent reply.
17 August 2014
87A. An assessee, being an individual resident in India, whose total income does not exceed five hundred thousand rupees, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of two thousand rupees, whichever is less.
So this deduction not available for Not Ordinarily resident.
For Tax Slab rates of AY 2014-15 see below link--
https://finotax.com/income-tax/slabs-next
So this deduction not available for Not Ordinarily resident.
For Tax Slab rates of AY 2014-15 see below link--
https://finotax.com/income-tax/slabs-next
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