One of my friend (Sr. citizen) having a total income from sal+FDr int+Div is Rs. 657232 (after std ddn Rs.50000) and Rs.632232 (after std ddn Rs.75000). His total deductions under chapter VI-A is Rs.233730. He is also having STCG on shares Rs.177808. So his total income in old regime will be Rs.423502+177808. In new regime total income will be Rs.632232+177808. Will he get rebate under sec 87A in old and new regimes. Kindly give me how much tax he has to pay in old and new regimes.
Menu
REBATE IN OLD AND NEW REGIME
Replies (1)
Rebate u/s 87A will not apply here.
Tax under old regime will be lower.
Related Topics
CAclubindia
