Standard Deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2011 Respected Sir,
I want to know when Standard deduction is applicable,i.e.when we need to deduct it from Gross Total Income.

Thanks

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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23 April 2011 Standard deduction is not applicable.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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23 April 2011 Standard Deduction is not deducted from Gross Total Income.

Standard Deduction is deducted from the Net Annual Value in the case of Income from House Property in case there is a let out or deemed let out property under the head IFHP.

Earlier the term Standard was used U/s 16(i)
which was deductible from the Salary under the head Salary Income.

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