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Rpu 3.9 [ rebate u/s 87a ]

varsha (ghhg) (92 Points)

28 April 2014

Today I have downloaded new RPU 3.9. But did not found provision for "Rebate u/s 87A". Please let me know what to do ?

Varsha

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5 Replies

Nag (IT) (77 Points)
Replied 28 April 2014

Same problem. Why nobody is giving a valid solution. Even nsdl must be knowing the problem.

See my query. I am getting error as "T-FV-4306 Invalid Taxable Amount on which tax is deducted by the current employer "

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Ushnas P.Zaveri (Chartered Accountant) (24 Points)
Replied 08 May 2014

What to do if Tax is deducted considering rebate u/s 87A ?

Whether to show Gross salary decrease by Rs.20000/- (as rebate of Rs.2000/-) ?

Or to wait for new version ?

varsha (ghhg) (92 Points)
Replied 08 May 2014

I have called NSDL call center. They told that this is not releted to TDS. So you enter TAX calculated after deducting 2000. So there will be no short fall.

In new RPU also there will not be any provision for the same. You can confirm this by calling NSDL call center.

Ushnas P.Zaveri (Chartered Accountant) (24 Points)
Replied 08 May 2014

i.e. to say, if Gross salary is Rs.450000/-

Deduction u/s 80c Rs.100000/-

Net taxable income (450000-100000-200000) Rs.150000/-

Then in Tax on Total income we have to put Rs.13000/- instead of Rs.15000/- ??

Then query will not generate ??

Nag (IT) (77 Points)
Replied 08 May 2014

Yes. I got the same answer from tin info center. They told that even if u show short recovery in last but one column of annexure 2, TDs CPC will not generate any default notice to the deductor. We have done as you have shown in your example I.e., 13000 instead of 15000 and changed the edu.cess accordingly. Finally I mean to say reduce 2000 from column number 23 those who are having taxable income up to 5lakh and recalculate edu.cess and post it in column number 25.