U/s 87 a
This query is : Resolved
15 January 2014
what is this section for and it is applicable from when
15 January 2014
this section provides a relief of maximum upto Rs 2000 to the assessees whose total income for the year doesn't exceed Rs 5 lakhs.
15 January 2014
For more clarifications on sec87A
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https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115
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https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115
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17 January 2014
Section 87A is the additional rebate availed by the Finance Minister to assessee whose Taxable Income (after deduction under chap VIA) does not exceed Rs 5,00,000. After the said rebate Education Cess @ 3% is to be calculated.
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