Claiming Rebate under section 87A

Hi @TeamQuicko

My father is 65, can he claim a tax rebate under section 87A? His gross income adds up to INR 6,50,000. If he is eligible, could you help me understand how much rebate he will be able to claim? Thanks.

Hey @HarshitShah

Senior citizens (above 60 years and below 80 years) are eligible to claim income tax rebate under section 87A. Below mentioned is the way in which the calculation of taxable income will take place:

Particulars Income
Gross Total Income 6,50,000
(-)Basic Exemption Limit (For Senior citizen) 3,00,000
Taxable Income 3,50,000
Tax Payable before cess(5% INR 2.5 to INR lakh) 5000
Tax Rebate u/s 87A (INR 12,500 or tax payable whichever is lower) 5000
Tax Payable Nil

Hope this helps! :slight_smile: