Rationalizatio n of rebate allowable under Section 87A :
CLAUSE(S) OF FINANCE BILL, 2017 |
PARTICUL ARS OF AMENDME NTS | SECTION | AMENDMENT / NEWLY INSERTED |
APPLICABLE W.E.F. |
BRIEF OF AMENDMENT |
38 | Rationalizatio n of rebate allowable under Section 87A |
87A(a) &(b) | Amendment | 01/04/2018 (A.Y. 2018-19) |
1. Maximum Rebate Rs. 2,500 (earlier Rs. 5,000). 2. Total Income does not exceed Rs. 3,50,000 (earlier Rs. 5,00,000). Thus no rebate u/s 87A if total income exceeds Rs 3,50,000 that is less than Rs. 5,00,000. |