Rebate under section 87A for Assessment Year 2019-20-No changes proposed

Rebate under section  87A for Assessment Year 2019-20 – No changes proposed 

No changes have been proposed by the Finance Bill 2018 in the rebate u/s 87A for AY 2019-20

100 percent Section 87A tax rebate up to income of Rs. 5 lakhs for AY 2020-21 Click Here >>

The rebate shall continue to be available to Indian resident individuals whose total income does not exceed Rs. 3,50,000/- . The quantum of the rebate is equal to Rs. 2500/- or the amount of tax payable whichever is less.

The Rebate available on various income groups would be as under:

• Penalty u/s 271B for unfilled column 40 in Tax Audit Report Form 3CD deleted by ITAT
• Merely ex-parte rectifying computation without amending assessment order not make it nullity- ITAT
• Once assessee discharges primary onus, it shifts to AO to bring evidence to contrary – ITAT
• Cost Inflation Index for FY/Tax Year 2026-27 notified by CBDT. See Up-to-date Table of CII
• Power of CIT(A) u/s 251(1)(a) to remand case can be exercised only in best judgment assessment