Rationalizatio n of rebate allowable under Section 87A :

CLAUSE(S) OF FINANCE BILL, 2017	PARTICUL ARS OF AMENDME NTS	SECTION	AMENDMENT / NEWLY INSERTED	APPLICABLE W.E.F.	BRIEF OF AMENDMENT
38	Rationalizatio n of rebate allowable under Section 87A	87A(a) &(b)	Amendment	01/04/2018 (A.Y. 2018-19)	1. Maximum Rebate Rs. 2,500 (earlier Rs. 5,000). 2. Total Income does not exceed Rs. 3,50,000 (earlier Rs. 5,00,000). Thus no rebate u/s 87A if total income exceeds Rs 3,50,000 that is less than Rs. 5,00,000.