relief U/s 87 A

Rebate Under Section 87A of The Income Tax Act

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Rebate section 87A

The Finance Act 2013,had introduced Section 87A under The Income Tax Act,to provide relief to the small tax payers. This section provided for a Tax rebate of Rs.2000 to the Resident Individuals having a Total Income less than or equal to Rs.5 lakhs. Further,as per recently presented Union budget in Feb 2016 ,the Finance minister … Read more

Income Tax Slabs for Financial Year 2016-17

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As per the Union Budget 2016 ,there has been no change in the Income tax slab rates for the financial year 2016-17.The Income tax slabs are the same as that of financial year 2015-16. Income tax is calculated on the Taxable income of an assessee as per the Income tax slab rates that are applicable for the … Read more