The amount of rebate of Income tax U/S 87A of the Income Tax Act, available to a resident Individual whose total Income does not exceed ₹5,00,000 for the Financial Year 2022-23 will be :

CS Executive · Tax Laws · PYQS · December 2023
The amount of rebate of Income tax U/S 87A of the Income Tax Act, available to a resident Individual whose total Income does not exceed ₹5,00,000 for the Financial Year 2022-23 will be :
(A) ₹12,500 or 100% income tax whichever is less
(B) ₹5,000
(C) ₹2,500
(D) ₹10,000

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic