Rebate u/s 87a and tds
Sujit Kumar Ray
(Querist) 24 February 2014
This query is : Resolved
One of employee has not provided PAN Number. Hence we have to deduct TDS on his Salary at higher rate as applicable.
My question is to calculate TDS on his Salary, he will get benefit u/s 87A or not? His income from Salary is less than Rs.5,00,000.
Sankaranarayanan
(Expert) 24 February 2014
clearly explained in the section it is
The section 87A seeks to provide that an tax payer being an individual , whose total Taxable Income does not exceed 5,00,000/-( After deduction of U/s 10,16,80C and under chapter VI A). It is must be great opportunity to tax relief for below tax payers.