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Tax calculation
As rebate of 87a is applicable for f.y 2013-14 so in this case how tax is calculated?? Whether rs 2000 is deducted frm the tax payable and than the cess is calculated on the amt received after deduction or the entire tax(incl cess) is calculated & than rebated is deducted??
Replies (1)
as per section 87 a rebate of rs 2000 is allowed to the persons who are in 10% tax slab.
Yes rebate is allowed from tax payable and then you will have to compute cess.
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