s Section 87A Rebate FY 2016-17 AY 2017-18 2018-19
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Rebate u/s 87A for AY 2018-19 (FY 2017-18) as per Budget 2017. With reduction in tax rate of 5% for the income group in Rs. 2.50 lakhs to rs. 3.00 lakhs, rebate u/s 87A for AY 2018-19 has been reduced to Rs. 2500/- for income up to Rs. 3.50 lakhs. Click Here to read more >>

 

Rebate u/s 87A for AY 2017-18 (FY 2016-17)

Union Budget 2016-17 was presented by the Finance Minister on 29-02-2016.

Section 87A of the Income Tax Act, 1961 was inserted by the Finance Act, 2013 w.e.f. 01-04-2014. The section provides for a income tax rebate up to Rs. 2000/- for assessees having Taxable Income not exceeding Rs. 5 lakhs.

In his direct tax proposals, the Finance Minister has proposed to increase the limit of rebate under section 87A for FY 2016-17 AY 2017-18 by Rs. 3000/- (from Rs. 2000/- to Rs. 5000/- )

Chart of 87A Rabate showing Tax incidence is as under:

Total Income

Income Tax

Rebate 87A

Net Tax

Edu Cess

SHE Cess

Tax+Cess Liability

250000

-

-

-

-

-

-

260000

1000

1000

-

-

-

-

270000

2000

2000

-

-

-

-

280000

3000

3000

-

-

-

-

290000

4000

4000

-

-

-

-

300000

5000

5000

-

-

-

-

310000

6000

5000

1000

20

10

1030

320000

7000

5000

2000

40

20

2060

330000

8000

5000

3000

60

30

3090

340000

9000

5000

4000

80

40

4120

350000

10000

5000

5000

100

50

5150

360000

11000

5000

6000

120

60

6180

370000

12000

5000

7000

140

70

7210

380000

13000

5000

8000

160

80

8240

390000

14000

5000

9000

180

90

9270

400000

15000

5000

10000

200

100

10300

410000

16000

5000

11000

220

110

11330

420000

17000

5000

12000

240

120

12360

430000

18000

5000

13000

260

130

13390

440000

19000

5000

14000

280

140

14420

450000

20000

5000

15000

300

150

15450

460000

21000

5000

16000

320

160

16480

470000

22000

5000

17000

340

170

17510

480000

23000

5000

18000

360

180

18540

490000

24000

5000

19000

380

190

19570

500000

25000

5000

20000

400

200

20600

Related Topics:
Read more about  Rebate u/s 87A  Click Here>>

Section 87A Income Tax Rebate of Rs. 2000 Availability for FY 2016-17 AY 2017-18 after Budget 2016-17 Amendments | 29-02-2016 |

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