Rebate u/sec 87a

This query is : Resolved

Janki Kahar (Querist)
Follow

12 August 2013 Dear Sir,

Please guide me whether rebate of Rs.2000/- is applicable for salaried person.It can be shown in Form 16

Thanks & Regards
Janki

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

13 August 2013 Firstly Section 87A is applicable from AY 2014-15, i.e. for the financial year 2013-14.

Rebate is applicable to ALL individual whose total income does not exceed Rs. 5 lakhs.

It will be shown by the employer in Form 16.

CA.Thirumalesu

CA.Thirumalesu (Expert)
Follow

13 August 2013 Mr.Siddhartha Bhardwaj said correct

Upgrade to CAclubindia Pro. Subscribe Now!

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

16 August 2013 Yes, it can be considered while deducting tds return and also can shown in form 16

for more information on new rebate secton 87A please do refer

https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115