n NISM Certifications
X NISM Series X
Medium

Under Section 87A, what is the rebate available to a resident individual with total income up to Rs. 5 lakh?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Rs. 25,000

  2. B

    Rs. 5,000

  3. Rs. 12,500

    Correct answer

  4. D

    NIL

Why this is the answer

Section 87A offers a rebate of up to Rs. 12,500 for resident individuals with total income not exceeding Rs. 5 lakh.

Test yourself for real

Take a full NISM Series X mock test.

Same duration, same weighting, same difficulty distribution as the real exam — with explanations on every question.