New income tax rebate rs.2000/- sec 87a

Page no : 2

Sridhar (Student CMA) (77 Points)
Replied 03 February 2014

@ manoj thank u sir. That was really a great help

1 Like

CA Manoj Keshari (CA ) (31 Points)
Replied 07 February 2014

Explained very well, thank u very much.

1 Like

vaibhav (student) (220 Points)
Replied 12 February 2014

Nicely explained.......Kindly rectify in answer to question no. 11 the line goes as follows----" The new section has been inserted with effect from the 1st day of April, 2014 means it is applicable for Assessment Year 2014-15 and thereafter." As per my understanding is concerned the first line should go as follows----The new section has been inserted with effect from the 1st day of April, 2013 means it is applicable for Assessment Year 2014-15 and thereafter." Thank you..........

Manoj Agarwal (Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com) (3456 Points)
Replied 12 February 2014

@ Vaibhav There is no mistake as pointed out by you. In Income Tax, the law as on the first day of any Assessment Year is applicable for that AY. You should understand this properly as it is fundamental to understanding income tax law.

vaibhav (student) (220 Points)
Replied 12 February 2014

Kindly explain me sir as i am unable to understand. I will be grateful if you explain it to me. Thank you.

pushpalatha (Accountant & HR Trainee) (21 Points)
Replied 25 February 2014

It is very informative.

Thank You for posting this.

SAMUEL BABU . GANDHAM (Internal Auditor) (70 Points)
Replied 01 March 2014

thank u very much..............verymuch informative

Vineeta Rawat (Accounts Executive) (22 Points)
Replied 08 April 2014

My total salary is Rs. 3,11,455/- in F.Y. 2013-14 and got exemption u/s 10 for Rs. 84,600 and 80C exemption for Rs. 9360/- now my taxable income is Rs. 2,1,7,500/- and my company deduct TDS for Rs. 1750/- (17500x10%) and they did not give me any rebate. Is this correct?

Please confirm.. its very urgent.

CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 08 April 2014

then u can still while filling return of income can claim 2000 rs u/s 87A.

Manoj Agarwal (Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com) (3456 Points)
Replied 08 April 2014

Dear Vineeta,

You can file your IT Return and claim TDS of Rs. 1750 as refund. Normally refund is given with 4 months of filing E Return. You can email me for further clarifications.

Manoj Agarwal

ServiceTaxExpert @ yahoo.com