Max. payee does not know about i.t. sec.88D. Most know that upto income of rs.111240/- there is no any tax. In my veiw they are in dark .Limit is only Rs. 1.00Lac. above that rebate u/s.88D will be as follows : fORMULA IS AS:
Toatal Tax Payable - ( Toatal Income-Rs.100000)=Rebate of Tax from tax payable if income comes within Rs.111240.Pl. circulate to each and your comments to me in this regards and oblige. Rs.111240/- is nothing that isonly a window dressing . Pl. inform e-mail Id of Finance minister and CBDT etc who are concerned with I.T.
