Standard deduction
This query is : Resolved
09 April 2019
My query is how to treat standard deduction for AY. 2019-20 Gross total income is (1).Rs.300000/-, (2).Rs.400000/- & (3).Rs.500000/- please explain this with some examples.Thanks to
09 April 2019
1. The deduction is allowed to salaried person.
2. Deduction is 40,000 or the amount of salary which ever is less.
3. Relevant section is 16(ia).
2. Deduction is 40,000 or the amount of salary which ever is less.
3. Relevant section is 16(ia).
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