rebate U/s 87A

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Who can take rebate u/s 87A and how much for A. yr. 2018-19
Replies (11)

Resident individual Total income less than or equal to 3,50,000 (Ay-2018-19)

up to 2500

Person having total income upto Rs. 350000 can avail rebate benefit...... upto Rs. 2500/-....... i think so
Rebate is amount of tax or 2500 whichever is lower

PL CLRIFY WHETHER 87-A TAX REBATE IS ALLOWED TO HUF ENTITY ALSO , SINCE IN  -  S- 87/A - , THE WORD RESIDENT INDIVIDUAL HAS VEEN MENTIONED &

 

NOT IND. & HUF , OR THE WORD ASSESSE , HAS NOT BEEN MENTIONED .

 

CAN ANY TAX EXPERT CLARIFY IT

No HUF entity is not allowed to claim rebate under 87A

1. From a plain reading of sec 87A rebate under this section will be allowed only for resident Individual to the extent of Rs. 2,500 or the amount of tax liability, whichever is lower. Rebate will be applicable only for Individual having income up to Rs. 3,50,000. 
2. Hence, rebate u/s 87A will not be applicable for HUF or any other entity except the individual. 
Please correct me if the above solution has an alternative view. 

Suresh you are absolutely correct..
u r right sir
thanks for confirming

Rebate available only if Income is upto 350000/- and Rebate available is Rs. 2500/-

If Income Exceeds 350000/-  then rebate is not available.

 

good clarification and information


CCI Pro

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