Calculating Rs.2000 Tax Rebate Sec 87A of Income Tax Act - Clarifications. As per the Income Tax Financial Act 2013-14, the new Section 87A is introduced w.e.f. 1.4.2014. It is a big relief as the Rebate of Rs.2000 is announced for the Individuals having Income between Rs.2,00,000 Rs.5,00,000. Now there are lot of doubts on how to avail the Rebate from Income Tax. Some are asking that whether the Basic Income Limit for Individuals has raised to Rs.2,20,000 and basic exemption limit is raised ?. Let us discuss some important points on availing rebate with reference to the Income Tax Act 2013-14 and Finance Minister's Financial Budget speech.
Read more »
