Sec 87a it act
This query is : Resolved
jayarathinam
(Querist)
28 July 2014
Clarification regarding income tax rebate Rs.2000 u/s 87A for the F.Y.2014-15
28 July 2014
What clarification do you need? Please elaborate.
Some points are as under:
1. Available to an INDIVIDUAL only.
2. The individual should be RESIDENT in India.
3. The total income of the individual should NOT exceed Rs. 5 lakhs.
4. The deduction is of an amount equal to the tax on income or Rs. 2,000 whichever is less.
5. EC & SHEC are to be added to the tax arrived at AFTER deduction u/s 87A.
In case of any other clarification reply.
Some points are as under:
1. Available to an INDIVIDUAL only.
2. The individual should be RESIDENT in India.
3. The total income of the individual should NOT exceed Rs. 5 lakhs.
4. The deduction is of an amount equal to the tax on income or Rs. 2,000 whichever is less.
5. EC & SHEC are to be added to the tax arrived at AFTER deduction u/s 87A.
In case of any other clarification reply.
28 July 2014
Rebate u/s 87A is available for FY 2014-15 as well. This rebate has not been withdrawn.
Vishnu Saboo
(Expert)
28 July 2014
Rebate is continued, you can claim it if ur total income is less than 5lac.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Capitalgain tax purposes for valuation report compulsory
- Oct 2025 Invoices
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Import of Software Service.
- TDS on Fixed Assets purchased
- TAX AUDIT ON PROFESSIONAL INCOME
- GST on Renting godown to KFCSC for Storage of Raagi
- Capital Gail Exemption Certificate
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
