standard deduction
Tarun Kumar (114 Points)
07 January 2019
can pensioners eligible for standard deduction?
3 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 07 January 2019
As per section 17 of the income tax 1961 pension qualify as salary and thus eligible for standard deductions up to 40000/- , ( finance act 2018) please confirm with other also.
manoj
(student)
(5205 Points)
Replied 07 January 2019
YES PENSIONERS ARE ELIGIBLE FOR STANDARD DEDUCTION
Damini Jaiswal
(400 Points)
Replied 08 January 2019
As per Income Tax Act 1961, section 16 Taxpayers who receive pension from their former employers are eligible to claim standard deduction of Rs 40,000.
Recent Topics
- TDS vs TCS who eligible to deduct tds
- E-way Bill Limit In Maharashtra
- Requirement of filing of form MSME-1
- Income tax query capital gain & exemption
- LTCG on flat
- Acquisition Cost after Merger
- Clubbing (Income Tax)
- Sales Invoice raised in feb-25 but now some materi
- Transfer of Nominee Share to Body corporate
- GSTR 4 FOR 24-25 due date of annual return
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
