Section 87a
This query is : Resolved
05 July 2014
i hav salary of 5 lakh rupees....while deductin tds i hav taken rebate 87a and accordingly tds is deducted..nw i hav other source income of 3 lakh rupees....nw wat to do
05 July 2014
When you offered this additional 3 lakhs under other sources
.
.
As your taxable income exceeds 5 lakhs
.
.
87A tax credit will not available
.
.
So you have to pay tax of this Rs.2000 along with tax on other soures income
.
.
As your taxable income exceeds 5 lakhs
.
.
87A tax credit will not available
.
.
So you have to pay tax of this Rs.2000 along with tax on other soures income
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