Answer ( 1 )

  1. ​Following are the conditions for claiming rebate under section 87A:

    • An assessee is a resident Individual

    • Total Income does not exceed Rs. 3,50,000 in the A.Y 2018-19 (Rs. 5,00,000 till A.Y 2017-18)

    • Rebate is 100% of Income tax or Rs. 2,500, whichever is less in the A.Y 2018-19 (Rs. 5,000 till A.Y 2017-18)

    Rebate under section 87A is not available to a non-resident individual, resident or non-resident HUF/AOP/BOI and company.

Leave an answer