Tax slab for individual
This query is : Resolved
Kirti Shah
(Querist)
07 December 2013
Whether Rs. 2000/- additional tax rebet is given for taxable income up to Rs. 5,00,000/-?
Kirti Shah
Kirti Shah
Pramod Kumar Sinha
(Expert)
07 December 2013
Yes, As per Finance Bill, 2013 rebate (Rs 2000/-)u/s 87A is available for resident individuals having taxable income up to Rs. 5 lakhs.
07 December 2013
An assessee, being an individual resident in
India, whose total income does not exceed five
hundred thousand rupees, shall be entitled to a
deduction, from the amount of income-tax (as
computed before allowing the deductions under
this Chapter) on his / her total income with which
he/she is chargeable for any assessment year, of
an amount equal to hundred per cent of such
income-tax or an amount of two thousand rupees,
whichever is less.
India, whose total income does not exceed five
hundred thousand rupees, shall be entitled to a
deduction, from the amount of income-tax (as
computed before allowing the deductions under
this Chapter) on his / her total income with which
he/she is chargeable for any assessment year, of
an amount equal to hundred per cent of such
income-tax or an amount of two thousand rupees,
whichever is less.
Kirti Shah
(Querist)
28 December 2013
Thank you all for your opinion.
Kirti Shah
Kirti Shah
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