Do company deduct TDS after considering Rebate U/s 87A ?
Taxable Income- 350000
Tax on above- 5000
Less : Rebate 87A- 5000
TDS 192: NIL
OR
Taxable Income- 350000
Tax on above- 5000
TDS 192- 5000..
2 Replies
Aneet
(PRACTICING CA)
(41 Points)
Replied 19 June 2019
It is after 87A rebate.. However, please note that the rebate is only 2500 Rs.. So TDS shall be deducted at Rs 2600.(tax+cess)
Manjeet Kaur
(student)
(119 Points)
Replied 19 June 2019
Agreed.
The net tax liabilty is after deduction of the rebate.
The tax liability will be 2500/- + 4% cess i.e total 2600/-
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