I heard that i.tax exempt limit is being reviewed upto 2.5 lakhs. more
Viewed by 773
View all 29 comments Below 29 comments
yes, it is permissible to avail rebate u/s 87A more
Jan 29
Section 87A is inserted again from A.Y-2015-16. so its it is possible to avail rebate u/s-87A of Rs.2000 as mentioned by Mr. Chain Kothari.. more
Jan 24
Sh. HANUMANTHA RAO One can subscribe to ELSS without any age limit. I have stopped PPF/LIC etc. and subscribe only to ELSS for my 80CC deductions. more
Jan 17
Shri Ashok Golas - I am appending text of Section 87A from Income Tax Circular 20 dated 02.12.2015 for your information - "REBATE OF Rs 2000 FOR INDIVIDUALS HAVING TOTAL INCOME UPTO Rs 5 LAKH [SECTION 87A] Finance Act 2013 provided relief in the form of rebate to individual taxpayers, resident in India, who are in lower income bracket, i. e. having total income not exceeding Rs 5,00,000/-. The amount of rebate is Rs 2000/- or the amount of tax payable, whichever is lower. This rebate is available for AY 2014-15 and subsequent assessment years." more
Jan 17
Mr. SHARAD RAJORIA (CA): This has reference to your input on tax rebate of Rs. 2000 under Section 87A. On referring to the Income Tax act, it is seen that Section 87A has been omitted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968. Could you please clarify? more
Jan 17