Rebate under section 87A is applicable in financial year 2013-14 and the question how can you get rebate under section 87A is given below:
as you mentioned in your question your CTC is 4,85,000/- so you can get rebate of Rs. 2,000/- under section 87A is as follows:
1. CTC Rs. 4,85,000/-
this is gross total income
now deduct some deduction under section 80C normally and suppose your income after deduction under section 80C Arrive less Rs. 5,00,000/- then you can claim rebate under section 87A.
suppose after claiming of deduction under section 80C your income comes to Rs. 4,00,000/- then in this income tax would become Rs. 10,300/- for assessment year 2017-18, in this case you can claim Rs. 2,000/- as rebate under section 87A.
i.e. you will have to pay only Rs. 8,300/- (net tax after taking rebate u/s 87A)