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.
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