Section 87
Rebate to be allowed in computing income-tax Repealed
About this Act
An Act to consolidate and amend the law relating to income-tax and super-tax
1,2(1) In computing the amount of income-tax
on the total income of an assessee with which he is chargeable for any assessment year, there shall be
allowed from the amount of income-tax (as computed before allowing the deductions under this Chapter),
in accordance with and subject to the provisions of 34
sections 87A, 88, 88A, 88B, 88C, 88D and 88E,
the deductions specified in those sections.
(2) The aggregate amount of the deductions under 5 section 87A or section 88 or section 88A 6 or section 88B 7 or section 88C 8 or section 88D or section 88E shall not, in any case, exceed the amount of income-tax (as computed before allowing the deductions under this Chapter) on the total income of the assessee with which he is chargeable for any assessment year
(2) The aggregate amount of the deductions under 5 section 87A or section 88 or section 88A 6 or section 88B 7 or section 88C 8 or section 88D or section 88E shall not, in any case, exceed the amount of income-tax (as computed before allowing the deductions under this Chapter) on the total income of the assessee with which he is chargeable for any assessment year
Notes
1. Subs. by Act 12 of 1990, s. 30, for Heading (w.e.f. 1-4-1991).
2. Ins. by s. 30, ibid. (w.e.f. 1-4-1991).
3. Subs. by Act 23 of 2004, s. 20, for “section 88, 88A, 88B and 88C” (w.e.f. 1-4-2005). Earlier section amended by Act 18 of 1992, s. 50 (w.e.f. 1-4-1993) and Act
. 4. Subs. by Act 17 of 2013, s. 21, for “sections 88” (w.e.f. 1-4-2014).
5. Subs. by Act 17 of 2013, s. 21, for “section 88” (w.e.f. 1-4-2014).
6. Ins. by Act 18 of 1992, s. 50 (w.e.f. 1-4-1993).
7. Ins. by Act 10 of 2000, s. 45 (w.e.f. 1-4-2001).
8. Ins. by Act 23 of 2004, s. 20 (w.e.f. 1-4-2005).
2. Ins. by s. 30, ibid. (w.e.f. 1-4-1991).
3. Subs. by Act 23 of 2004, s. 20, for “section 88, 88A, 88B and 88C” (w.e.f. 1-4-2005). Earlier section amended by Act 18 of 1992, s. 50 (w.e.f. 1-4-1993) and Act
. 4. Subs. by Act 17 of 2013, s. 21, for “sections 88” (w.e.f. 1-4-2014).
5. Subs. by Act 17 of 2013, s. 21, for “section 88” (w.e.f. 1-4-2014).
6. Ins. by Act 18 of 1992, s. 50 (w.e.f. 1-4-1993).
7. Ins. by Act 10 of 2000, s. 45 (w.e.f. 1-4-2001).
8. Ins. by Act 23 of 2004, s. 20 (w.e.f. 1-4-2005).