Salary is 6,40,000
under 80 (C) = 1,50,000 saving
640000-150000 = 490000
can this salary is elegile for rebate under section 87A= Rebate is Rs.2500
In my mind as per my knowledge if your income is below Rs.500000 you are elgible for rebate under section 87A that is Rs.2500 and in this situtation if we count Rs.640000 salary (not rebateable under section 87A) or we count 640000-150000 (saving under 80c) = 490000 (now rebateable under section 87A).
Please calrify the situtaion.
Regards,
Munish Narang
CAclubindia
