Section 87a rebate
This query is : Resolved
Musaddiq Husain
(Querist)
22 February 2014
please can anyone explain rebate u/s 87A of IT.
who can claim rebate and what are the conditions?
22 February 2014
Under Sec 87A, a rebate of Rs 2000/- is allowed from tax (before adding education cess) provided :
a. Taxpayer is a resident individual.
b. His/Her taxable income (after deductions under Chapter VI-A) is Rs 5 Lakhs or less.
a. Taxpayer is a resident individual.
b. His/Her taxable income (after deductions under Chapter VI-A) is Rs 5 Lakhs or less.
Ganeshbabu K
(Expert)
22 February 2014
Any individual assesse having total income not exceeding 5lakhs can claim rebate u/s 87A
.
Refer below link for more clarity
.
https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115
.
Refer below link for more clarity
.
https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115
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