Section 87A Eligibility:
The tax rebate under section 87A is merely available to resident individuals with net taxable income below certain threshold which keeps on changing year on year Budgets. we might list the bounds as was proposed for every year. Also HUFs or NRIs aren’t eligible for this tax rebate.
Budget 2019 changed the limit for 87A eligibility. Taxpayers with net taxable income of but Rs 5 lakhs can claim tax rebate of up to Rs 12,500 under this section.
The government has not changed the tax slab but given the benefit through Sec 87A because it solves two things:
1. It provides No benefit to people with taxable income of quite Rs 5 Lakh
2. Individuals with income of quite Rs 2.5 lakh still got to file their tax returns.
Download All in One TDS on Salary for West Bengal Govt Employees for the F.Y. 2019-20 With H.R.A. Exemption Calculation U/s 10(13A) + Automated Revised Form 16 Part B and Form 16 Part A&B for F.Y. 2019-20
The feature of this Excel Utility is the following:-
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4) Automated Income Tax Salary Sheet for each Employee
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y. 2019-20 in New Format
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