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Standard deduction for partners drawing salary

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2018 Dear Experts,
Kindly advise where the partners in partnership firm are eligible for standard deduction?(40000/-)
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
29 June 2018 No, because that income is taxed u/s 28(v) and not u/s 17.

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