Rebate of income-tax for senior resident individuals: full relief up to a prescribed monetary cap on tax liability. Substitution of section 88B grants a rebate of income-tax to resident individuals aged sixty-five years or more during the previous year, permitting a deduction from the computed amount of income-tax on total income equal to the full tax liability or a specified monetary ceiling, whichever is less; the provision takes effect from 1 April 1998.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Rebate of income-tax for senior resident individuals: full relief up to a prescribed monetary cap on tax liability.
Substitution of section 88B grants a rebate of income-tax to resident individuals aged sixty-five years or more during the previous year, permitting a deduction from the computed amount of income-tax on total income equal to the full tax liability or a specified monetary ceiling, whichever is less; the provision takes effect from 1 April 1998.
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