Section 157 — Rebate of income-tax

Old Act equivalent: Section 87A of IT Act 1961 Sub-part: Rebates and Reliefs

Statutory Text

(1) Where the total income of an assessee is assessed at a rate higher
than the rate at which it would otherwise have been assessed, due to the following receipts,— ( a) a sum in the nature of arrear or advance salary; or ( b) salary for more than twelve months in any one tax year; or ( c) a payment in the nature of “profits in lieu of salary” under section 18(1); or ( d) arrears of “family pension” as defined in section 93(1)( d), the Assessing Officer shall on an application made to him by the assessee in this behalf, grant such relief, as may be prescribed. (2) No relief shall be granted on any income on which deduction has been claimed
by the assessee in section 19(1)(Table: Sl. No. 12) for any amount mentioned therein, for such, or any other, tax year. Relief from taxation in income from retirement benefit account maintained in a notified country.

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To be updated.