Brief of New Tax Rebate U/S 87A As per the Central Finance Budget 2013
As per the Central
Finance Budget 2013, a new Income Tax Section has
introduce under section 87A, where can get relief as well as Rebate Maximum
Rs. 2,000/- who’s taxable income up to 5,00,000/-. For more clarification about this new section under clauses
19 & 20 of the Central Budget
2013 as given below:-
Clauses 19 & 20 of
the Central Budget which have already passed by the Parliament, that
The new section 87A in
the income tax Act relating to get the rebate of income tax in case of below given
certain clauses :-
A) The section 87A seeks to
provide that an tax payer being an individual , whose total Taxable Income does not exceed 5,00,000/-( After
deduction of U/s 10,16,80C and under chapter VI A). It is must be great
opportunity to tax relief for below tax payers.
B) This amendment will take
effect from 1st April
2013 which effect for the Financial Year 2013-14 and Assessment Year 2014-15.
Here is
given below a new concept Automatic Income Tax Calculator which Can prepare at a time Tax
Computed Sheet + Salary Sheet + Form 16 Part
A&B + Form 16 Part B + Automatic HRA relief
calculation + Automatic Arrears Relief Calculation in one file. This
Automatic Excel Utility can use the both of Govt and Non Govt Employees for the Financial Year 2013-14 and Assessment Year 2014-15.
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