Availability of Tax Rebate of Rs. 2000/-under Section 87 - A
to those whose total taxable income does not exceed Rs. 5 lakhs.
Dear Mr Mahadevan
If I remember right, this rebate was made available for FY 2013-14 by introduction of a new provision from last AY. It seems that this rebate continues to be available for the FY 2014-15 also. The IT calculator available under GOI IT Dept website, shows "0" tax for a taxable income of Rs. 3,20,000/- for senior citizens above 60 years of age. But this rebate, it seems, is not available to Super Senior Citizens aged 80 and above, since their basic exemption limit is Rs. 5,00,000/-. Kindly cofirm.
V. Gopalan