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Sec 87a and 80ttb

Tax queries 258 views 4 replies

This Qn is related to Sec 87A and 80TTB.  For the Very Senior Citizen pertaining to the Assessment Year 2019-20 WHAT IS THE QUANTUM OF REBATE ALLOWED under the above sections ?

Replies (4)
we can claima tax rebate u/s.87 A when net taxable income below 350000 after all vi A deduction for all.
and
80ttb is only for senior citi., only
maximum 50000 in sb and u/s.194a interest

Mr..M.Rahuman,   Thank you for the reply.  Vaguely I remember that for the Financial year 2018-19 (Assessment Year (2019-20)

for the very senior citizen, 87A rebate has been raised to Rs.12500,when  Sri.  Piyush Goyal was submitting the Interim Budget.   Can you please correct me if I am wrong.

Thank you.

12500 rebate applicable from fy 2019-20(assessment year 2020-21). piyush announced this in 2019 budget, all provision of 2019 finance act applicable from fy 2019-20

12500 rebate applicable from fy 2019-20(assessment year 2020-21). FM  Piyush Goyal announced this in 2019 intrim budget, all provision of 2019 finance act applicable from fy 2019-20

 


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