rebate 87
Rahul Chhabadia (168 Points)
04 November 2017
What is rebate 87? And how much amount of rebate is available?
7 Replies
HARI KRISHNA GADDAM
(64 Points)
Replied 04 November 2017
a resident individual whose taxable income is less than or equal to 500000 can have a deduction of 5000 u/s 87 as rebate
HARI KRISHNA GADDAM
(64 Points)
Replied 04 November 2017
means if his tax liability is 6000 he need to pay only 1000
Rahul Chhabadia
(168 Points)
Replied 04 November 2017
Means to get rebate income must be Less than rs 500000?
Navaneetha Krishnan G
(43 Points)
Replied 04 November 2017
FY 17-18 it is reduced to 2500 whose salary not greater than 3.5lacs
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