Meaning of Tax Rebate?
Neelakanta Neelu (29 Points)
08 February 2018
Dear sir please anyone can answer for my question sir? I'm totally confused about tax rebate concept
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193990 Points)
Replied 08 February 2018
Rebate under Section 87A of Income Tax Act,1961
Section 87A of Income-tax Act, provide for a rebate of an amount equal to hundred percent of such income-tax or an amount of Rs. 2500 (from Financial Year 2017-18), whichever is less, from the amount of income-tax to an individual resident in India whose total income does not exceed 3,50,000
Kindly refer: 1. section-87a-income-tax-rebate
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