standard deduction

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114 Points Joined October 2017
can pensioners eligible for standard deduction?
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On 07 January 2019 at 18:59 Report
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GST Practitioner & Accounts
15049 Points Joined March 2014

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. 

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On 07 January 2019 at 19:14
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student
5205 Points Joined February 2009

YES PENSIONERS ARE ELIGIBLE FOR STANDARD DEDUCTION

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On 07 January 2019 at 19:21
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400 Points Joined April 2018
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.
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On 08 January 2019 at 11:11


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