87A rebate eligibility

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8 Points Posted on 22 January 2021
if taxable income is less than 5 lacs but it has some STCG on shares am I eligible for rebate u/s 87A
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On 22 January 2021 at 16:15 Report
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Quick Summary
If your taxable income is below 5 lacs but includes Short Term Capital Gains (STCG) from shares, you may still be eligible for the rebate under Section 87A. The calculation of STCG at 15% under Section 111 is considered. Your total income, encompassing all heads, is used to determine eligibility for the 87A rebate.

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Chartered Accountant
24588 Points Posted on 22 January 2021
Yes you can eligible after calculating Short term capital gain @ 15% u/s 111
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On 22 January 2021 at 17:53
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17269 Points Posted on 22 January 2021
Total income includes total under all heads for the purpose of 87A.
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On 22 January 2021 at 20:06

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