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Section 87a query

Krishna Das Vishnu (Vishnu) (Student CA IPC / IPCC) (63 Points)

22 March 2014

The amendment under section 87A states that it is available to resident individuals having income slab under Rs.500000. In the supplementary IPCC material it also states that this means individual having income unto Rs. 200000 will not have to pay tax.

My doubt concerning this is...will section 87A apply to resident individuals who is aged 60 yrs or above and whose income is under Rs. 500000?

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4 Replies

Deepak Gupta (CA Student) (15922 Points)
Replied 22 March 2014

Conditions for sec. 87A applicability are;
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> Individual assessee.
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> Resident in India.
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> Total income does not exceed Rs. 5 lakh.
.
So, sec. 87A is also applicable to resident individuals aged 60 years and above and they shall not pay tax upto a total income of Rs. 2,70,000.
.
However, this provision does not apply to resident individuals aged 80 years and above as their basic exemption limit is upto Rs. 5 lakh.

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Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)
Replied 23 March 2014

Mr. Deepak gupta

I would like to say that this provision also applied to super senior citizens (who attain age of 80 year at any time during previous year).

suppose if super senior citizen have income of Rs. 4.7 lac than definately he would be benefitted by provision u/s 87 A

Deepak Gupta (CA Student) (15922 Points)
Replied 25 March 2014

Originally posted by : SUDESH K GUPTA
	Mr. Deepak gupta I would like to say that this provision also applied to super senior citizens (who attain age of 80 year at any time during previous year). suppose if super senior citizen have income of Rs. 4.7 lac than definately he would be benefitted by provision u/s 87 A