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rebate u/s 87a

sonu (job) (30 Points)

23 July 2019

sir Hume income tax me rebate kab milta hai

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M. Muthukumar (Accounts Manager) (38 Points)
Replied 23 July 2019

You can claim tax rebate under this provision if you meet the following conditions:You must be a RESIDENT INDIVIDUAL; andYour Total Income after Deductions (under Section 80) doesn’t exceed Rs 5 lakh.The rebate is limited to Rs 12,500. This means that if the total tax payable is lower than Rs 12,500, then that amount will be the rebate under section 87A. This rebate is applied to the total tax before adding the Education Cess (4%).

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sonu (job) (30 Points)
Replied 23 July 2019

sir yes you are right but yeh bat ay19-20 ka hai mujhe ay19-20 ka chaiye

M. Muthukumar (Accounts Manager) (38 Points)
Replied 23 July 2019

for ay 19-20
Your Total Income after Deductions (under Section 80) doesn’t exceed Rs 3.5 lakh.The rebate is limited to Rs 2500. This means that if the total tax payable is lower than Rs 2500, then that amount will be the rebate under section 87A. This rebate is applied to the total tax before adding the Education Cess (4%).