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

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

Explained very well, thank u very much.

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..........

@ 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.

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

It is very informative.

Thank You for posting this.

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

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.

 

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

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