Rebate under section 87A for Assessment Year 2019-20-No changes proposed

No changes have been proposed by the Finance Bill 2018 in the rebate u/s 87A for AY 2019-20

The rebate shall continue to be available to Indian resident individuals whose total income does not exceed Rs. 3,50,000/- . The quantum of the rebate is equal to Rs. 2500/- or the amount of tax payable whichever is less.

The Rebate available on various income groups would be as under:

Total/Taxable Income (Rs.)	Income Tax	Rebate u/s 87A	Net Tax
Rs. 300000/-	2500/-	2500/-	Nil
Rs. 310000/-	3000/-	2500/-	500/-
Rs. 320000/-	3500/-	2500/-	1000/-
Rs. 330000/-	4000/-	2500/-	1500/-
Rs. 340000/-	4500/-	2500/-	2000/-
Rs. 350000/-	5000/-	2500/-	2500/-
Rs. 400000/-	7500/-	Nil	7500/-
Rs. 500000/-	12500/-	Nil	12500/-