CHAPTER VIII
REBATES AND RELIEFS
A.-Rebate of income-tax
Rebate to be allowed in computing income-tax.
87. (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 87A], the deductions specified in those sections.
(2) The aggregate amount of the deductions under section 87A or 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.
Notes:
1. Omitted by the Finance Act, 2023 dated 01.02.2023 w.e.f 01.04.2023.
