Rebate of income-tax in case of certain individuals
87A. An assessee, being an individual resident in India, whose total income does not exceed 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 incometax or an amount of five thousand rupees (the words "two thousand rupees " applicable upto 31st March, 2017) whichever is less.”. |