saurabh kumar
(Tax Consultant)
(348 Points)
Replied 11 January 2017
It is applicable w.e.f. F.Y. 2016-17 (A.Y. 2017-18)
sai jyotheeswar
(21 Points)
Replied 11 January 2017
Hai Ramya,
The Rebate amount of 5000 is applicable from F.Y.2016-17 i.e. from 01/04/2016.
Pls Check on the Below Link.
https://abcaus.in/incometax/section87A-rebate-availability-fy-201617-ay-201718-budget-2016-17.H T M L
Have a fIne day.
VARUN KAKKAR
(CA FINAL)
(151 Points)
Replied 11 January 2017
Hi Ramya
In finance bill it is mentioned that it is w.e.f. from 1.4.2017 it means from Assessment Year 2017-18 (financial year 2016-17)
Nikhil Sharma
(Government Service)
(539 Points)
Replied 11 January 2017
Law makers always talk in terms of assessment year. 1.4.2017 means assessment year 2017-18 i.e financial year 2016-17.
Sanket Dandawate
(CA student)
(52 Points)
Replied 12 January 2017
Yes,It is applicable from the AY 2017-18.
CAclubindia
