REBATE 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.
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