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Rebate u/s.87A
For A.Y. 2017-18, whether 5000 rebate is applicable u/s.87A.? As I read from the bill that it was mentioned applicable w. e.f. 01.04.2017. whether it's financial year or assessment year?
Replies (6)
It is applicable w.e.f. F.Y. 2016-17 (A.Y. 2017-18)
Thank you so much
Hai Ramya,
The Rebate amount of 5000 is applicable from F.Y.2016-17 i.e. from 01/04/2016.
Pls Check on the Below Link.
https://abcaus.in/incometax/section87A-rebate-availability-fy-201617-ay-201718-budget-2016-17.H T M L
Have a fIne day.
Hi Ramya
In finance bill it is mentioned that it is w.e.f. from 1.4.2017 it means from Assessment Year 2017-18 (financial year 2016-17)
Law makers always talk in terms of assessment year. 1.4.2017 means assessment year 2017-18 i.e financial year 2016-17.
Yes,It is applicable from the AY 2017-18.
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