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Applicability of standard dedeution for a person having salary and business income

P GUNAPALAN (PROPREITOR) (66 Points)

14 December 2021

A person who works as part time accountant for different firms earning salary or accountant fee and derives salary as partner form a business. He works for 4 firms with each of them paying 6000 Rs./month.

!. Which ITR form should he use for e filing?

2. Is he eligible for standard deduction for the salary income received for working as accountant?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178099 Points)
Replied 14 December 2021

1. File ITR 3.

2. YES.

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Tanuj Chandra Saxenaa (Company Secretary) (7075 Points)
Replied 14 December 2021

1 File Ur Itr3

2 Yes he is eligible for standard deduction of Rs 50000/- Under Salary Head If He is working as an accountant and receiving Salary Income

jagdish chhugani (engineer) (1004 Points)
Replied 17 December 2021

So to say he earns 288000 yearly. Do he have any other income, he needs form 16 from the employer. to my understanding, anyone employer gives form 16 he gets a 52500 exemption including professional tax.