Section 87A of Income Tax Act - what is the effective date of this section and it applies on Gross Total income or Taxable Income
LPRajendraKumar (Advocate speciatised in Service Tax) 22 January 2014
Section 87A of Income Tax Act - what is the effective date of this section and it applies on Gross Total income or Taxable Income
R RAJAGOPALAN (ADVOCATE) 22 January 2014
Section 87A applies from AY 2014-15 onwards.
To get its benefit, the resident individual's Total Income must not exceed Rs 5 lakhs.
LPRajendraKumar (Advocate speciatised in Service Tax) 29 January 2014
Sir,
Total Income means whether Total Taxable income or any other pl clarify
R RAJAGOPALAN (ADVOCATE) 29 January 2014
'Total Income' is defined in Section 2 (45); in practical terms it means Gross Total Income minus the Reliefs in Chapter VIA.
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