Standard deduction for fy 2015-2016

This query is : Resolved

S K Talukdar (Querist)
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25 July 2016 Dear Sir,

I am asking this query on behalf of my son who is 36 years old. He has worked in 2 organization in FY 2015-2016. Now both the forms show a taxable income of total 17 lakhs. Now my query is will standard deduction be applicable, if yes then how much?
Any answer would be extremely helpful.

Thanks and Regards
S K Talukdar

CA S K MISHRA

CA S K MISHRA (Expert)
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25 July 2016 Standard deduction on salary income is a thing of past. For F.Y 2015-16, there is no standard deduction. There are deduction U/Ch VIA U/s 80C to 80U available from Gross total income.

S K Talukdar

S K Talukdar (Querist)
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25 July 2016 Thank you very much for your reply.

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