{"id":2406,"date":"2018-03-14T10:29:56","date_gmt":"2018-03-14T04:59:56","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=2406"},"modified":"2018-03-14T10:29:56","modified_gmt":"2018-03-14T04:59:56","slug":"section-87a-income-tax-act","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/section-87a-income-tax-act\/","title":{"rendered":"Section 87a of the Income Tax Act"},"content":{"rendered":"

Section 87a of the Income Tax Act, 1961 was launched to offer some relief for taxpayers who fall under the 10%\u00a0tax slab. Any individual whose total net income does not cross Rs.5 lakh can claim tax rebate under section 87a of the Income Tax Act, 1961. One can get a tax rebate of up to Rs.2000 under the section 87a. The amount of rebate will be 100% of\u00a0income tax\u00a0or Rs.2,000 whichever is lesser.<\/p>\n

The rebate under section 87a is available only to individual assessee and not to members of Hindu United Families, AOP\/BOI, Firm and Company. Also, the aggregate amount of rebate should not exceed the amount of income tax computed before the rebate on total income of the individual with which they are chargeable for that assessment year.<\/p>\n

Key Points of Section 87a of the Income Tax Act, 1961:<\/h2>\n

Listed below are the key points of Section 87a of the Income Tax Act, 1961.<\/p>\n