Rebate of Income Tax u/s 87A

 Rebate of income-tax in case of certain individuals (87A)

With effect from the 1st day of April, 2014, An assessee, being an individual resident in India, whose total income does not exceed five hundred thousand rupees, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of two thousand rupees, whichever is less.”.

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