If my Taxable income is rs 5,00,000
then i am liable for rebate
can i get the tds refund which is cut in the financial year
can i get both rebate and refund both??
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Rebate and refund at same time
Replies (3)
Quick Summary
@ Nini,
Rebate as per Section 87A: For AY 2020-21 (FY 2019-20) is INR 12,500 and your Total Income should be INR 5,00,000.
Yes, you can take the benefit of TDS and rebate at the same time.
Thank you sir
@ Ms.Nini
See you can claim benefit of rebate under sec 87A because your income is upto 500000/- and this rebate means it reduce your tax libility if any upto
Rs.12500 or
Tax amount whichever is lower
And second TDS is also help you to pay your liability.
since your liability become nil because of rebate benefit then all TDS will be refunded to you.
See you can claim benefit of rebate under sec 87A because your income is upto 500000/- and this rebate means it reduce your tax libility if any upto
Rs.12500 or
Tax amount whichever is lower
And second TDS is also help you to pay your liability.
since your liability become nil because of rebate benefit then all TDS will be refunded to you.
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