The Income-Tax Act, 1961

Chapter VIII

²[Rebates and Reliefs]

³[A.-Rebate of income-tax]

87. 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 ⁴[⁵[sections 87A, 88], 88A, 88B, 88C, 88D and 88E], the deductions specified in those sections.

(2) The aggregate amount of the deductions under ¹[section 87A or section 88] or section 88A ²[or section 88B] ³[or section 88C] ⁴[or section 88D or section 88E] 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.

2. Subs. by Act 12 of 1990, s. 30, for Heading (w.e.f. 1-4-1991).

3. Ins. by s. 30, ibid. (w.e.f. 1-4-1991).

4. Subs. by Act 23 of 2004, s. 20, for "section 88, 88A, 88B and 88C" (w.e.f. 1-4-2005). Earlier section amended by Act 18 of 1992, s. 50 (w.e.f. 1-4-1993) and Act

5. Subs. by Act 17 of 2013, s. 21, for "sections 88" (w.e.f. 1-4-2014).

1. Subs. by Act 17 of 2013, s. 21, for "section 88" (w.e.f. 1-4-2014).

2. Ins. by Act 18 of 1992, s. 50 (w.e.f. 1-4-1993).

3. Ins. by Act 10 of 2000, s. 45 (w.e.f. 1-4-2001).

4. Ins. by Act 23 of 2004, s. 20 (w.e.f. 1-4-2005).

⁵[87A. Rebate of income-tax in case of certain individuals.-

An assessee, being an individual resident in India, whose total income does not exceed ⁶[⁷[five hundred thousand] rupees], shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of ⁸[⁹[twelve thousand and five hundred] rupees], whichever is less.]

5. Ins. by Act 17 of 2013, s. 21 (w.e.f. 1-4-2014).

6. Subs. by Act 7 of 2017, s. 38, for "five hundred thousand rupees" w.e.f. 1-4-2018).

7. Subs. by Act 7 of 2019, s. 8, for "three hundred fifty thousand" (w.e.f. 1-4-2020).

8. Subs. by Act 7 of 2017, s. 38, for "five thousand rupees" (w.e.f. 1-4-2018) and by Act 28 of 2016, s. 46, for "two thousand rupees" (w.e.f. 1-4-2017).

9. Subs. by Act 7 of 2019, s. 8, for "two thousand and five hundred" (w.e.f. 1-4-2020).

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