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about 87A

16 December 2017

I am EMPLOYEE earning yearly Rs. 728500/-
after all deductions I have to pay tax for Rs. 165000/- I can avail tax rebate for that.

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8 Replies

Thota Rao (12 Points)
Replied 16 December 2017

sir, you are not avail tax rebate.
Because your income is more than 350000/-.
REBATE APPLICABLE CONDITIONS
A PERSON IS
1. INDIVIDUAL AND
2. RESIDENT AND
3. INCOME LESS THAN 350000/-
so, you satisfied 1&2 but not 3rd condition

thank you

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Trilochan mohapatra (----) (249 Points)
Replied 17 December 2017

Bilkul sahi jawab 'Thota Rao'

Mutyala Satyanarayana (16 Points)
Replied 17 December 2017

Thank you sir

Trilochan mohapatra (----) (249 Points)
Replied 17 December 2017

Bhai ...how tax of Rs.165000 comes on just Rs 725800...????

Mutyala Satyanarayana (16 Points)
Replied 17 December 2017

My gross amount Rs 728705/- HRA deduction - Rs. 26986/- myself disabled person conveyence allowances Rs 38400/- & Children education allowances - Rs. 2400/- and savings Rs. 150000/- and disable allowance Rs. 125000 medical for insurance Rs. 1440/- and as per standard deduction Rs. 250000