Section 87Central Act
Section 87: Rebate to be allowed in computing income-tax
Rebate to be allowed in computing income-tax.
(1)
In computing the amount of income-tax on the total income of an assessee with which he is chargeable for any assessment year, there shall be allowed from the amount of income-tax (as computed before allowing the deductions under this Chapter), in accordance with and subject to the provisions of [sections 88, 88-A, 88-B, 88-C, 88-D and 88-E] [ Substituted by Act 23 of 2004, Section 20, for " section 88, 88-A, 88-A, 88-B and 88-C" (w.e.f. 1.4.2005).], the deductions specified in those sections.(2)
The aggregate amount of the deductions under section 88 or section 88-A [or section 88-B] [ Inserted by Act 18 of 1992, Section 50 (w.e.f. 1.4.1993).][or section 88-C)] [ Inserted by Act 10 of 2000, Section 45 (w.e.f. 1.4.2001).] [or section 88-D or section 88-E] [ Inserted by Act 23 of 2004, Section 20 (w.e.f. 1.4.2005).] shall not, in any case, exceed the amount of income-tax (as computed before allowing the deductions under this Chapter) on the total income of the assessee with which he is chargeable for any assessment year.Disclaimer: This section is reproduced for general informational and reference purposes only. Always verify against the latest official gazette and consult a qualified advocate before relying on any provision.