if total income is 280000, shall i claim rebate u/s 87a?
that means T.I 280000-250000=30000?
30000*01=3000
3000-2000=1000
Taxable income is 1000
is it correct?
3 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 31 October 2015
Yes, your observation is correct.
Sec. 87A rebate is applicable for individual taxpayer falling in 10% tax slab (i.e. total income ≤ 5 lakh).
Rebate = tax on total income or Rs. 2,000/- (whichever is less).
vishnu bhardwaj
(Tax Advocate)
(212 Points)
Replied 05 November 2015
yes you got releif of upto 2000
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