40000standard deduction
Sarika Kothari (144 Points)
01 January 2019
is standard deduction of rs 40000 from pension only available to employee or retired person can deduct
5 Replies
jyoti bhagchandani
(fresher)
(595 Points)
Replied 01 January 2019
any taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs 40,000 or the amount of pension, whichever is less, under Section 16 of the (I-T) Act
Sarath Rajendran
(Nil)
(2791 Points)
Replied 01 January 2019
Individuals having salary income can be claim standard deduction upto 40,000
jyoti bhagchandani
(fresher)
(595 Points)
Replied 01 January 2019
sir/mam pensioners can also claim such deduction. plz check
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