Tag Archives: Section 87A

87A Rebate for AY 2017-18

Section 87A Rebate for AY 2017-18 Rebate of Rs. 5,000 for resident individuals having total income up to Rs. 5 lakh [Section 87A] Purpose of 87A Rebate for AY 2017-18 (Financial Year 2016-17) With a view to providing tax relief to the individual taxpayers who are in lower income bracket, a rebate is provided for under section 87A. Conditions for 87A… Read More »

Govt increased rebate of Income tax under section 87A

Finance Bill 2016 Rationalization of limit of rebate in income-tax allowable under Section 87A The existing provisions of section 87A of Income-tax Act, provide for a rebate of an amount equal to hundred per cent of such income-tax or an amount of two thousand rupees, whichever is less, from the amount of income-tax to an… Read More »

Rebate of income tax under section 87A

Rebate of income tax under section 87A of Income Tax Act 1961 Section 87A has been Inserted by the Finance Act, 2013 in Income Tax Act  w.e.f. 1-4-2014 to allow rebate of Income Tax Rebate of income tax in case of certain individuals. An assessee, being an individual resident in India, whose total income does… Read More »