Rebate u/s 87A

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1 Points Posted on 29 December 2020
if assesse filed income at rs. 354000 but during the assessment addition of rs. 1160000 was made, then will he receive rebate u/s 87A
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On 29 December 2020 at 13:03 Report
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Quick Summary
This discussion clarifies the eligibility for the Section 87A income tax rebate. Generally, the rebate is available if your taxable income is below ₹5 lakh. However, if additions are made during assessment that push your total income above ₹5 lakh, you will no longer be eligible for this rebate, even if your initial declared income was below the threshold.

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Tax consultant
5895 Points Posted on 29 December 2020
If you're taxable income or annual net income is less than 5lakh then you get rebate
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On 29 December 2020 at 13:47
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Practice
869 Points Posted on 29 December 2020
The rebate will not be able after assessment as total income now exceeds Rs 5,00,000
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On 29 December 2020 at 14:36
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63 Points Posted on 29 December 2020
If total Income is upto 350000 then you are eligible for rebate now in this case rebate is not available
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On 29 December 2020 at 14:41

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