Any order regarding this one, plz send On 02-Feb-2017 6:14 am, "Ram mysuru" <[email protected]> wrote:
> *87A. *[*Rebate of income-tax in case of certain individuals.* > > - 87A is* applicable on total Income not on Gross Income*. Gross > income means total of income under all five heads i.e. Salary, House > Property, Business or Profession, Capital Gains and Income from other > sources. When we deduct all losses of business or other under other heads > and deductions u/s 10, 16 and chapter VI A then it becomes Total Income. > It means this income must be reduced by all available deductions and rebate > except sec 87A. So this makes possible that Gross income can be more than > 5,00,000/-. It must be equal or below 5,00,000/- after deductions of sec > 10, 16 and all deductions of chapter VI A for claiming rebate under this > section. > - Filing of income tax return is necessary in spite of fact that total > income is below exempt limit after this rebate. > > Calculation method of rebate amount u/s 87A > > > 1. First calculate total income by deducted all possible deductions > and rebates from Gross total income except sec 87A, it is total income for > normal tax rate. > 2. From this total income liable to tax, calculate tax in normal > course which will be 10% slab as it is normal rate for total income upto > 5,00,000/-. > 3. Now deduct total tax or 5,000/- whichever is less from above > calculated tax. > 4. Calculate education cess and secondary and higher education cess on > this amount. > 5. Total of this will be tax payable by individual. > > -- > 1. If a teacher wants to join STF, visit http://karnatakaeducation.org. > in/KOER/en/index.php/Become_a_STF_groups_member > 2. For STF training, visit KOER - http://karnatakaeducation.org. > in/KOER/en/index.php > 4. For Ubuntu 14.04 installation, visit http://karnatakaeducation.org. > in/KOER/en/index.php/Kalpavriksha > 4. For doubts on Ubuntu, public software, visit > http://karnatakaeducation.org.in/KOER/en/index.php/ > Frequently_Asked_Questions > 5. Are you using pirated software? Use Sarvajanika Tantramsha, see > http://karnatakaeducation.org.in/KOER/en/index.php/Why_public_software > ಸಾರ್ವಜನಿಕ ಇಲಾಖೆಗೆ ಸಾರ್ವಜನಿಕ ತಂತ್ರಾಂಶ > --- > You received this message because you are subscribed to the Google Groups > "Maths & Science STF" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To post to this group, send email to [email protected]. > Visit this group at https://groups.google.com/group/mathssciencestf. > For more options, visit https://groups.google.com/d/optout. > -- 1. If a teacher wants to join STF, visit http://karnatakaeducation.org.in/KOER/en/index.php/Become_a_STF_groups_member 2. For STF training, visit KOER - http://karnatakaeducation.org.in/KOER/en/index.php 4. For Ubuntu 14.04 installation, visit http://karnatakaeducation.org.in/KOER/en/index.php/Kalpavriksha 4. For doubts on Ubuntu, public software, visit http://karnatakaeducation.org.in/KOER/en/index.php/Frequently_Asked_Questions 5. Are you using pirated software? Use Sarvajanika Tantramsha, see http://karnatakaeducation.org.in/KOER/en/index.php/Why_public_software ಸಾರ್ವಜನಿಕ ಇಲಾಖೆಗೆ ಸಾರ್ವಜನಿಕ ತಂತ್ರಾಂಶ --- You received this message because you are subscribed to the Google Groups "Maths & Science STF" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send an email to [email protected]. Visit this group at https://groups.google.com/group/mathssciencestf. For more options, visit https://groups.google.com/d/optout.
