Standard deduction

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Advocate
272 Points Joined May 2017
What items are included in standard deduction ?
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On 10 February 2019 at 13:35 Report
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student
312 Points Joined February 2019

No, it do not include any item. its plain deduction available to salaried class.

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On 10 February 2019 at 14:00
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Advocate
272 Points Joined May 2017
I have paid 2500 as employment tax , then i can claim only 2500 as standard deduction or whole 40000 ?
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On 10 February 2019 at 14:05
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student
312 Points Joined February 2019

Whole 40,000/- Rs. is deductible.

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On 10 February 2019 at 14:14
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Advocate
272 Points Joined May 2017
2500 of employment tax is included in 40000 or i have to claim seperately?
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On 10 February 2019 at 14:16
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student
312 Points Joined February 2019

That is separate. Employment tax is deductible u/s. 16(iii) of IT act.

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On 10 February 2019 at 14:24
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Advocate
272 Points Joined May 2017
it means without any investment i can directly deduct 40000 from my salary ?
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On 10 February 2019 at 14:34
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Team Lead
7558 Points Joined November 2011
yes it's a deduction given straightaway.you need not produce any proofs
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On 10 February 2019 at 14:38
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4 Points Joined February 2018
if monthly salary is 26000 then what amount is deduct for standard deduction 26000 or 40000?
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On 03 March 2019 at 20:27
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student
278 Points Joined February 2019

Rs. 40000/-. As the standard deduction is available over total of annual salary receipt.

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On 04 March 2019 at 08:50


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