U/s 87a
This query is : Resolved
rajat malik
(Querist)
03 July 2015
how much amount is allowed as deduction as per u/s87a,and where is allowed.
03 July 2015
Rs. 2,000. Reduce from income tax due.
CA. Sunil Gokhale
(Expert)
03 July 2015
U/s 87A, if total income of resident individual does not exceed Rs.5,00,000 then a rebate from income-tax is allowed at 100% of the tax payable or Rs.2,000, whichever is lower.
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