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Rebate

1 reply, 2 voices Last updated by MUSKAN WADHELA 5 months, 1 week ago
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  • #8740

    ashu pandey
    Participant
    @ashupandey

    What is the eligibility for claiming rebate (Section 87A)?

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    #8775

    MUSKAN WADHELA
    Participant
    @MUSKAN

    Following are the conditions for claiming rebate under section 87A:
    • An assessee should be Resident Individual
    • Total Income does not exceed Rs. 5,00,000 in the A.Y 2020-21 (Rs. 3,50,000 till A.Y 2019-20)
    • Rebate is 100% of Income-tax or Rs. 12,500, whichever is less for A.Y 2020-21 (Rs. 2,500 till A.Y 2019-20)
    Rebate under section 87A is not available to a non-resident individual, resident or non-resident HUF/AOP/BOI and company.

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