Daily Archive: Thursday, January 26, 2017

Rebate under section 87A for AY 2018-19 FY 2017-18 reduced to Rs. 2500/- as per Budget Proposals 2017-18.

Author: | Categories: budget-2017, Income Tax 1 Comment
Rebate under section 87A for AY 2018-19 FY 2017-18 reduced to Rs. 2500/- as per Budget Proposals 2017-18. The Union Budget 2017-18 was presented on 1st February, 2017. With a reduction of ta xrate to 5% (in place of existing 10%), the Government has reduced the rebate u/s 87A to Rs. 2500/-

Form 10B income accumulation amount inadvertent mistake. Income Tax authorities were misconceived in denying the claim for the difference-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Form 10B income accumulation amount inadvertent mistake. Income Tax authorities were misconceived in denying the claim for the difference-ITAT   ABCAUS Case Law Citation: ABCAUS 1110 (2017) (01) ITAT Assessment Year : 2003-04 Date of Pronouncement: 20-01-2017 Brief Facts of the Case: The assessee was a charitable trust registered

Income Tax Basic Exemption Limits AY 2018-19. 5% tax rate for income up to Rs. 500000/- Rebate u/s 87A reduced to Rs. 2500/-

Author: | Categories: budget-2017, Income Tax No comments
Income Tax Basic Exemption Limits AY 2018-19. 5% tax rate for income up to Rs. 500000/- Rebate u/s 87A reduced to Rs. 2500/-    As forecasted by ABCAUS, the tax rate has been reduced to 5% for first income tax slab and rebate u/s 87A has been pegged at Rs.
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