Avinash Jeevan Dsouza (Assistant In Charge Accountant) (3292 Points)
04 May 2018Can some one please explain when is rebate on IT is applicable? For A.Y 2019-20.
Where do we need to show the deduction made by the employer monthly basis? Monthly they deduct 200 from our salry along with PF. Under which section PF and EPF need to show it?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 05 May 2018
When is rebate on IT is applicable? For A.Y 2019-20.
Under Section 87A.........For an Individual assessee, whose total income does not exceed three hundred fifty thousand rupees, shall be entitled to a deduction, from the amount of income-tax, of an amount equal to hundred per cent of such income-tax or an amount of [two thousand and five hundred] rupees, whichever is less.
Where do we need to show the deduction made by the employer monthly basis?
B1(v)........Deduction u/s. 16
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 05 May 2018
Thnk you Sir Dhirajlal Rambhia for clear explanation.
CAclubindia
