Relief under section 87a

This query is : Resolved

surinder singh (Querist)
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17 January 2014 Is Relief under Section 87A is available to All individuals (less than 60 years, Sr Citizen or V Sr Citizen)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 January 2014 It is available to all irrespective of age

AVTAR SINGH

AVTAR SINGH (Expert)
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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.

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Ganeshbabu K

Ganeshbabu K (Expert)
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18 January 2014 Yes available to senior citizen also if their total income not exceeded 5 laks
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However 87A not available to super senior citizen as his total income up to 5 lakhs is already fully exempted
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Refer below post for more
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https://www.caclubindia.com/forum/new-income-tax-rebate-rs-2000-sec-87a-241553.asp#.UUlszRwZ115