Is rebate allowable for a.y. 2016-17 u/s 87a for individual
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2016
Dear Sir/Madam
is Rebate 2000/- Allowable for A.Y. 2016-17 U/s 87A for Individual ? such as allow Rebate U/s 87A in A. Y 2015-16.
Please Reply
is Rebate 2000/- Allowable for A.Y. 2016-17 U/s 87A for Individual ? such as allow Rebate U/s 87A in A. Y 2015-16.
Please Reply
18 April 2016
Yes allowable in asst.yr. 2016-17.
19 April 2016
Yes Rs. 2000/- is allowed u/s 87A if taxable income of person is below 5 Lacs for A.Y. 2016-17. It will go to Rs. 5000/- in A.Y. 2017-18.
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