rebate 87

04 November 2017

What is rebate 87? And how much amount of rebate is available?

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7 Replies

HARI KRISHNA GADDAM (64 Points)
Replied 04 November 2017

a resident individual whose taxable income is less than or equal to 500000 can have a deduction of 5000 u/s 87 as rebate

HARI KRISHNA GADDAM (64 Points)
Replied 04 November 2017

means if his tax liability is 6000 he need to pay only 1000

Rahul Chhabadia (168 Points)
Replied 04 November 2017

Means to get rebate income must be Less than rs 500000?

HARI KRISHNA GADDAM (64 Points)
Replied 04 November 2017

absolutely. ...

Rahul Chhabadia (168 Points)
Replied 04 November 2017

Thanks

Navaneetha Krishnan G (43 Points)
Replied 04 November 2017

For which FY you are asking

Navaneetha Krishnan G (43 Points)
Replied 04 November 2017

FY 17-18 it is reduced to 2500 whose salary not greater than 3.5lacs

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