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LPRajendraKumar (Advocate speciatised in Service Tax)     22 January 2014

Rebate/exemption from income tax u/s.87a

Section 87A of Income Tax Act - what is the effective date of this section and it applies on Gross Total income or Taxable Income



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 3 Replies

R RAJAGOPALAN (ADVOCATE)     22 January 2014

Section 87A applies from AY 2014-15 onwards.

To get its benefit, the resident individual's Total Income must not exceed Rs 5 lakhs.

LPRajendraKumar (Advocate speciatised in Service Tax)     29 January 2014

Sir,

Total Income means whether Total Taxable income or any other pl clarify

R RAJAGOPALAN (ADVOCATE)     29 January 2014

'Total Income' is defined in Section 2 (45); in practical terms it means Gross Total Income minus the Reliefs in Chapter VIA.

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