CA Sansaar
Rebate U/s 87A for A.Y. 2017-18
PrintREBATE U/S 87A FOR A.Y. 2017-18 (F.Y. 2016-17)
Rebate of up to Rs. 5,000 for resident individuals having total income of up to Rs. 5,00,000 as per Sec-87A of Income Tax Act, 1961 for A.Y. 2017-18 i.e. F.Y. 2016-17.
The rebate shall be equal to the amount of income tax payable on the total income for assessment year 2017-18 or an amount of Rs. 5,000, whichever is less.
Key Point :-
- Individual residential of India,
- Whose Total Income is up to Rs. 5,00,000,
- Shall be allowed a rebate,
- From Income Tax,
- 100% of Income Tax or Rs.5,000, Whichever is Less.
Category : Income Tax | Comments : 1 | Hits : 2104
Comments
CA. GAGAN KHARBANDA
27-Jun-2016 , 01:06:19 amI think, It was a proposal in budget 16 but has been withdrawn in finance act 16. For AY 2017-18 also its unchanged to Rs 2000/- Kindly confirm