HI,
In addition an rebate of Rs 2000 will be available for income less than Rs 5 lakhs.
can anyone explain me with an exmaple.
Thank you
CA Deepak Rathore
(EXPERT)
(281 Points)
Replied 02 March 2013
first calculate tax liablity normally
then less rebate u/s 87 A(maximum upto 2000 or tax liablity whichever is lower)
net tax payable =(taxliablity-rebate u/s 87A)
Suppose after all deduction u/s 8c to 80u income is Rs 300000
tax liablity Rs 10000
less :Rebate u/s 87 A (2000)
tax payable =8000
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
