Sec 87a of income tax act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2014
hi,
How rebate u/s sec 87a of income tax is calculated....
1-Whether Tax rebate is calculated on Tax payable including 3 % Cess or
2- Tax rebate is to be reduced from Tax payable amount as per IT Slabs & then 3 % Cess calculated on balance amount
How rebate u/s sec 87a of income tax is calculated....
1-Whether Tax rebate is calculated on Tax payable including 3 % Cess or
2- Tax rebate is to be reduced from Tax payable amount as per IT Slabs & then 3 % Cess calculated on balance amount
24 February 2014
Basic tax is reduced by rebate and thereafter cess of 3% is charged on remaining amount if any.
25 February 2014
Rebat 87A can be availed before caluculation of cesstax
.
.
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