A resident individual can avail the benefit of rebate of ₹2,500 or 100% of Income Tax whichever is less under section 87A of Income Tax Act, 1961 for the assessment year 2018-19 on fulfilling the condition that total inc

CS Executive · Tax Laws and Practice · PYQS · December 2018
A resident individual can avail the benefit of rebate of ₹2,500 or 100% of Income Tax whichever is less under section 87A of Income Tax Act, 1961 for the assessment year 2018-19 on fulfilling the condition that total income does not exceed :
(A) ₹2,50,000
(B) ₹3,50,000
(C) ₹5,00,000
(D) ₹3,00,000

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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