17 January 2014
The individual must be resident in India, who is in lower income bracket, i.e. having total income not exceeding Rs 5,00,000/-. The amount of rebate is Rs 2000/- or the amount of tax payable, whichever is lower. However, V. Sr. Citizens cant avail benefit of section 87A because their income up to Rs.500,000 is already exempt.
18 January 2014
Yes available to senior citizen also if their total income not exceeded 5 laks . . However 87A not available to super senior citizen as his total income up to 5 lakhs is already fully exempted . . Refer below post for more . . https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115
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