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Section 872

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12 November 2013 How to calculate rebate U/s 87A?? Is rebate is available to the after Adding education cess?? RASAP
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
12 November 2013 Rebate is allowed from the Income-tax. On the balance remaining payable you have to add EC+S&HSEC.
.
Let the income of the assessee is 300000/-
.
Income Tax on it is Rs. 3000
.
Max. Rebate allowable Rs. 2000
.
Balance Tax payable 1000
.
EC+ S&HSEC=30
.
TOTAL TAX PAYABLE =1030.
.
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