Budget 2019Enhance the limit of Tax Section 87A Rs. 5000/- from the F.Y. 2019-20Income Tax Form 16 Part BNew Income Tax slab for F.Y. 2019-20New standard deduction Rs. 50000 from the F.Y. 2019-20NewsNotificationsTax Software

Automated Income Tax Master of Form 16 Part A&B for F.Y. 2018-19 With Rebate 87A Finance Act 2019 [Updated] A.Y.2020-2021

A resident individual can claim a rebate from income-tax under section 87A. Currently, this rebate is available only if his total income does not exceed Rs.3,50,000.

The amount of rebate for the assessment year 2019-20 is limited to Rs.2,500.


From the assessment year 2020-21, this rebate will be available if the total income of the resident individual is Rs. 5,00,000 (or less).

The quantum of the maximum rebate will be Rs.12,500.

The following table summaries provisions of section 87A before and after this amendment.


Rebate 87A Table (From A.Y.  2014-15 to A.Y.2020-21)

Different years Total income should not exceed the amount given below Amount of rebate u/s 87A
A.Y. 2014-15 to 2016-17 Rs.5,00,000 100% of income-tax or Rs.2,000, whichever is less
A.Y.2017-18 Rs.5,00,000 100% of income-tax or Rs.5,000, whichever is less
A.Y.2018-19 and A.Y.2019-20 Rs.3,50,000 100% of income-tax or Rs.2,500, whichever is less
A.Y.2020-21 onwards Rs.5,00,000 100% of income-tax or Rs.12,500 whichever is less

Assessable pay or full-scale pay (for instance net total pay – inference under 80C to 80U)

A.Y.2020-21 is Rs.5,00,000 (Situation 1)

A.Y. 5,10,000 (Situation 2)

Obligation danger of X is figuring in different cases – a time of X at whatever point in the midst of the prior year 2019-20 is


40 Years (Case 1), 60 Years (Case 2) or 80 Years (Case 3)You can likewise utilize salary charge number cruncher for A.Y.2020-21

Download Automated Master of Form 16 Part B for Financial Year 2018-19 [ This Excel Utility can prepare at a time 50 employees Form 16 Part B ]

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