slab rates

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binisha ravindran (Querist)
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11 May 2017 as per finance act 17, rebate u/s 87A is 2500 for individuals whose income doesnt exceeding 350000 . does that mean that for those people whose income is above 350000 but below 500000 can claim 5000 as rebate ?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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11 May 2017 No its means amout reduced from 5000/- to 2500/- and also limit for claiming rebate reduced from Rs.500000/- to Rs.350000/-. You can claim rebate of Rs.2500/- only if Income is less than Rs.350000/-

binisha ravindran

binisha ravindran (Querist)
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11 May 2017 thank you ma'am.

Message likes : 1 times

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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11 May 2017 Pleasure is all mine.

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Guest

Guest (Expert)

12 May 2017 NO it will be wrong interpretation. it simply means that individual having income more than 3.5 lacs are not eligible for rebate.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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12 May 2017 This interpretation is to make her undersatnd only.

@VaibhavJ

@VaibhavJ (Expert)
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12 May 2017 refer https://www.simpletaxindia.net/2017/02/calculation-of-rebate-us-87a-after.html for more info..

Thanks
@VaibhavJ

Guest

Guest (Expert)

12 May 2017 Rashmi mam i was talking about interpretation of querist..not your's..

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