u/s 87a & u/s 89(1)
Pravin Gupta
i received salary for FY 2014-15 ₹ 516952and Arrears ₹ 203521. Calculation for relief u/s 89(1) ₹ 22224 including surcharge. deduction calculated u/s 80c rs. 150000. can i receive relief u/s 87a ₹ 2000
Tax rebate eligibility depends on taxable income after arrears relief and deductions, which determines entitlement to the rebate. Entitlement to the tax rebate depends on taxable income and tax liability after applying relief under section 89(1) for arrears and claiming deductions such as under section 80C; the rebate applies only if the post-relief, post-deduction tax liability meets the statutory criteria and residency or other eligibility conditions. (AI Summary)
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