Finance Act 2014 has increased Income Tax Exemption Limit by Rs. 50000/- for Individuals and Senior Citizens below the Age of 80 Years. Now the Question is will this Rebate of income-tax under section 87A as applicable for FY 2013-14 also available for FY 2014-15 and subsequent years? Please clarify.
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Availability of rebate u/s. 87a for fy 2014-15 / ay 2015-16
Replies (2)
I think it is available for FY 2014-15 also as there is no circular about this.
Thanks for the information.
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