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How much rebate under section 87A for FY 2018-19
How much rebate is eligible under section 87A for the FY2018-19.
Replies (3)
For net total income upto 3,50,000/- rebate is upto 2,500/-
Rebate u/s 87A is 2500 income after all deduction ie u/s 80C is before adding 4% education cess & health cess
total tax liability =
tax on total income at applicable rates. +
surcharge at applicable rates, if total income exceeds rs 50 lakhs +
Cess @ 4% (-)
rebate u/s 87A, if total income is less than rs 3.5 lakhs
tax on total income at applicable rates. +
surcharge at applicable rates, if total income exceeds rs 50 lakhs +
Cess @ 4% (-)
rebate u/s 87A, if total income is less than rs 3.5 lakhs
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