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Section 87a

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 February 2014 Dear,

As this is a new section iam little bit confused whther the rebate of Rs. 2000 is desucted after education cess or prior to that??....i surfed a lot of pages but all giving contradictory answers...
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
18 February 2014 Relief u/s 87A is from the gross amount of tax. EC & SHEC will be charged AFTER the rebate.
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HRIDAYNATH PATRA

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HRIDAYNATH PATRA (Expert)
18 February 2014 Rebate of Rs 2000 u/s 87A is available to an assessee, being an individual resident in India, whose total income does not exceed Rs. 500,000.

This rebate is from total tax liability including cess.
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Naresh Dharia F.C.A.

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Naresh Dharia F.C.A. (Expert)
19 February 2014 It is the rebate of tax.
Edc will be after rebate.
Surcharge applies when the taxable income exceeds 1 cr.
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