U/s 87a
pavan kumar (article) (103 Points)
17 September 2014
wheather HUF can claim rebate under section 87A?plz reply
8 Replies
CA Meetali
(Practicing Chartered Accountant)
(145 Points)
Replied 17 September 2014
No, only resident individual can claim this rebate.
Swapnil Jain
(Finance - FP&A)
(564 Points)
Replied 17 September 2014
no.... rebate under 87A is only for Individuals....
akheeram
(chennai)
(30 Points)
Replied 17 September 2014
Rebate can be given on resident individual whose net income is <5,00,000 in the py. Rebate =either of given 2.1)100%tax or 2)2000 Rs which ever is lower
pavan kumar
(article)
(103 Points)
Replied 18 September 2014
Weather in total income includes agriculture income also?
Suyash Jhunjhunwala
(Articled Assisstant)
(30 Points)
Replied 18 September 2014
Total income should be less than 500000 means net total income after deductions u/c VI A or gross total income should be less than 500000?
CA Vap Patel
(Practice)
(1205 Points)
Replied 18 September 2014
Pavan,
Agricultural Income is included In total Income for Calculating rebate u/s 87
CA Vap Patel
(Practice)
(1205 Points)
Replied 18 September 2014
Suyash,
It is Total Income After Deduction under Chapter VIA.
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