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shubham singh (Job)     15 April 2019

87a rebate excel formula for ay 2020-21

If Total Income is less than equal to 500000 then Rebate under 87A will be 12500

Here is the Excel Formula.

Lets say Total Income Cell is A4 and tax cell is A5.

formula,   =if A4<=500000,MIN(A5,12500),0)

thankyou



 10 Replies

rama krishnan

rama krishnan   15 April 2019

it's not 500000 but it's 350000

(Guest)
nice shubham
shubham singh

shubham singh (Job)     15 April 2019

w.e.f 1 April 2019, The Limit Is 500000

Sethu Raman

Sethu Raman   17 April 2019

I agree with Mr.Shubham Singh.
Ankit Varshney

Ankit Varshney   18 April 2019

Originally posted by : rama krishnan
it's not 500000 but it's 350000

 

Satya N Dharani

Satya N Dharani (Finance Professional)     22 April 2019

hi, shubam,

if(A4<=500000,MIN(A5,12500),0)

if a4=600000, a5=505000, formulae is not showing any difference, showing "0"

pl correct accoding its values.

 

Satya N Dharani

Satya N Dharani (Finance Professional)     22 April 2019

sorry , working

CA Vinod Singhvi

CA Vinod Singhvi (Partner at Rajesh Chheda and Company)     28 April 2020

For 87A REBATE CALCULATION KINDLY CHECK THIS FORMULA                                                                                                                =if (A4<=500000,A5,12500)

 

Thank you

CA Vinod Singhvi

CA Vinod Singhvi (Partner at Rajesh Chheda and Company)     12 May 2020

FOR 87A REBATE THIS FORMULA IS MORE APPROPRIATE

=IF(A4<=500000,MIN(A5,12500),0)

1 Like
Prachi Bansal

Prachi Bansal   20 March 2021

Is the formula still the same?


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