Sarath Rajendran
(Nil)
(2791 Points)
Replied 02 February 2019
There is no relevance for section 87 A
Ganga Bhavani Palaparthi
(Article Student)
(131 Points)
Replied 02 February 2019
For A.y 2019 -2020 there is no change in the sec 87A ( ie. whose income does not exceed 3,50,000 will get rebate of 2,500)
But the budget 2019 speaks about Sec 87A (Individual taxpayers with annual income up to 5 lakh rupees to get full tax rebate) implies Sec 87A limit has been increase from 2,500 to 12,500 (Applicable for A.Y 2020-2021)
Hopes this clarifies your doubt.
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 02 February 2019
IT IS FOR FY 2018-19
AND BASIC TAX EXEMPTION IS RS 5,00,000 AS PER INTERIM BUDGET
TAX SAVE ULTIMATE RS 12,500
Sarath Rajendran
(Nil)
(2791 Points)
Replied 02 February 2019
Budget is not specifically said anything about Section 87 A
RS. 12,500 is only tax saved portion from exempted income limit Rs. 5,00,000 ( No change in section 87 A from the latest budget)
Rudrayani Shedjale
(Assistant Accountant)
(751 Points)
Replied 02 February 2019
is it applicable for f.y.2018-19 or f.y.2019-20?
Rudrayani Shedjale
(Assistant Accountant)
(751 Points)
Replied 02 February 2019
& standard deduction for f.y.2018-19?
Ganga Bhavani Palaparthi
(Article Student)
(131 Points)
Replied 02 February 2019
Standard deduction for F.Y 2018- 19 is 40,000
Saikrishna S
(119 Points)
Replied 07 February 2019
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