Hello!
My father is a very senior citizen earning between 10 to 12 lakhs from Dividend and Interest. Learnt that new rebate proposed is not available to them. Can anyone explain the logic for keeping only them out from the category of resident individuals as it's the only income from their hard earned money accumulated over the years.
Thanks in advance
Rebate under 87A is available, for income from other sources, Dividend and Interest income are income from other sources, so in my opinion you may get rebate under 87A of the in new tax regime under the income tax act .
Take more opinion on this.
For super senior citizens (above 80 years) it's not available. Wanted to know the logic behind it.
👆🏻HUFs, NRIs, companies, and super senior citizens cannot claim rebate under section 87A.
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