Tax Rebate Clarification
This query is : Resolved
13 December 2024
Dear Expert,
If a Individual is having yearly salary of Rs. 312,000/-. Tax upon this as per old tax regime is Rs. 475/-.
Along with salary he has Short Term Capital of Rs. 50,000/-. Tax upon this @20% is Rs. 10,000/-.
So, in FY 24-25 he is having total tax liability of Rs. 10,475/- (Salary + Capital Gain).
In this case this is individual eligible for rebate under sec 87A ?
If a Individual is having yearly salary of Rs. 312,000/-. Tax upon this as per old tax regime is Rs. 475/-.
Along with salary he has Short Term Capital of Rs. 50,000/-. Tax upon this @20% is Rs. 10,000/-.
So, in FY 24-25 he is having total tax liability of Rs. 10,475/- (Salary + Capital Gain).
In this case this is individual eligible for rebate under sec 87A ?
13 December 2024
Yes, rebate u/s. 87A for Rs. 475/-
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