Section 87A:
Rebate of income-tax in case of certain individuals.
1An assessee, being an individual
resident in India, whose total income does not exceed 23
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 45
twelve thousand and five hundred rupees,
whichever is less.
Notes:
1. Ins. by Act 17 of 2013, s. 21 (w.e.f. 1-4-2014).
2. Subs. by Act 7 of 2017, s. 38, for “five hundred thousand rupees” w.e.f. 1-4-2018).
3. Subs. by Act 7 of 2019, s. 8, for “three hundred fifty thousand” (w.e.f. 1-4-2020).
4. Subs. by Act 7 of 2017, s. 38, for “five thousand rupees” (w.e.f. 1-4-2018) and by Act 28 of 2016, s. 46, for “two
thousand rupees” (w.e.f. 1-4-2017).
5. Subs. by Act 7 of 2019, s. 8, for “two thousand and five hundred” (w.e.f. 1-4-2020).