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Sec.87 A

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Rajkumar Gutti

880 Points Posted on 11 April 2023

If taxable income (Old slab ) is more than 5 Lacks ( say 7 Lacks )
In above case can , rebate u/s 87 A
avail

For Example
Tax payable 52500
Less rebate 12500
Net tax payable 40000
Pl.guide in above case rebate allowable.

Replies (3)

Quick Summary

This discussion clarifies the eligibility for the rebate under Section 87A of the Income Tax Act. It explains that if your taxable income exceeds 5 lakhs, you are not eligible to claim the rebate, even if your net tax payable would otherwise be reduced. The net tax liability remains at the higher amount.