Dear Friends,
Please resolve my 2 doubts regarding the applicability of Section 87A, regarding relief for Resident individual who is in the 10% tax slab.
1. Is the rebate available if the assessee has Rs.2,00,000 from PGBP, and Rs.50,000 from lottery winnings? in other words, is the rebate available notwithstanding the non-obstante provisions of S.115BB?
2. If assessee has Rs.185,000 Total Income and Rs.50,000 as agriclutural income, please show how rebate u/s 87A shall be shown in the calculation of tax liability (Under scheme of partial integration for rate purposes). My specific doubt is, will the tax on (Total income + agri income) as well as (Basic exemption limit + Agri income) be calculated without considering S. 87A and then the difference will the the rebate for agricultural income, or will the tax on both be calculated after giving rebate u/s 87A? Mathematically, both should give same answers, but i am asking presentation aspect.
Thank you very much for your responses.
gk
CAclubindia
