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How to claim rebate u/s 87a
A question which is coming in the mind of coupon code rue 21 Taxpayers nowadays.
This rebate is applied on total tax before adding Education Cess(3).Who can claim rebate under section 87A in FY 2016-17?Applicability, further, it is to be noted that the same is available only to an individual assesses residing in India and whoseTotal Incomedoes not exceeds.The amount of rebate allowable under section 87A has been increased from the existing 2000 (up to AY 2016-17) to 5000 (from AY 2017-18 onwards).On the other hand, the rebate u/s 87A shall be given to those resident individuals whose total income does not exceed 5,00,000.But, you are not allowed to claim a refund after filing ITR for the balance amount.e.Yes, rac promo code hpi because the Total Income after deducting all the deductions available under Chapter VI from the Gross Total Income shall not exceed.The section was introduced in the form of Rebate and hence it is not a kind of deduction, which means that anincome tax assesse will get reduction (rebate) in the Income tax amount payable by them.
1.8 crore tax payers are expected to benefit to the value.
87a is also available for all the years succeeding.Y.
Rebate of income-tax for resident Individuals under section 87A.
2,000/to every person who has a total income upto.
If the total tax payable by is less than.One more question which comes to mind is amount of Rebate Available under section 87A,.e is.5,50,000/and assesse has paid Life Insurance premium.50,000/.5,00,000 shall need to consider the same.Whether basic exemption limit for Individuals, HUFs, AOP BOI under the Income Tax Act, 1961 has been raised from.In excess.Whether Return is required to be filed when the Total Income is upto.87A Available to individual resident in India whose total income does not exceed five hundred thousand rupees.3) Claim Refund up to INR 5000: One of our visitors asked me the procedure for claiming refund under section 87A of Income Tax Act after filing ITR.Yes, this benefit is available only if the total income of the assesse doesnt exceed.In other words, even if the total tax liability is less than five thousand rupees there will not be any entitlement for claiming the refund.