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 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/- 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.