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What is the amount of Rebate u/s 88B of I.T.Act, from Asstt. Year 1996-97?

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From 1996 - 97, Assessment Year what is the amount prescribed for rebate or relief u/s 88B (Senior Citizen) of Income Tax Act.

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  1. Deduction is equal to income tax or Rs. 20,000 which ever  is less.

    Forum on India Taxes: http://www.mytaxes.in


  2. AY 1996-97 it was maximum Rs. 20,000. But from 2001-02 its Rs15000.
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