Standard deduction
Waseem Syed (271 Points)
10 February 2019
What items are included in standard deduction ?
Waseem Syed (271 Points)
10 February 2019
Chandrakant Bendre
(student)
(312 Points)
Replied 10 February 2019
No, it do not include any item. its plain deduction available to salaried class.
Waseem Syed
(271 Points)
Replied 10 February 2019
Chandrakant Bendre
(student)
(312 Points)
Replied 10 February 2019
Whole 40,000/- Rs. is deductible.
Waseem Syed
(271 Points)
Replied 10 February 2019
Chandrakant Bendre
(student)
(312 Points)
Replied 10 February 2019
That is separate. Employment tax is deductible u/s. 16(iii) of IT act.
Waseem Syed
(271 Points)
Replied 10 February 2019
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 10 February 2019
Manoj Kumar
(4 Points)
Replied 03 March 2019
Chatopadhya
(student)
(278 Points)
Replied 04 March 2019
Rs. 40000/-. As the standard deduction is available over total of annual salary receipt.
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