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Tax Reliefs: Sections 87A and 89 Explained by Nitin Raj is a document available to read on EtoBox.
What is Tax Reliefs: Sections 87A and 89 Explained about?
The document discusses various rebates and reliefs available under the Income Tax Act. It explains that Section 87 allows rebates to be deducted from the total income tax payable. Section 87A provides a rebate of 100% of income tax payable or Rs. 12,500, whichever is less, for resident individuals earning up to Rs. 500,000. Section 89 provides relief for salary taxed in multiple years due to payment in arrears or advance. The document contains illustrations calculating tax liability using these rebates and
- Author
- Nitin Raj
- Language
- EN