50 Points
Joined May 2018
i have 2 form 16 from different employer.
can i claim both standard deduction in my itr.
Tax and Business Consultant
11616 Points
Joined July 2015
No, Total standard deduction up to 50,000/- can only be claimed..
28122 Points
Joined May 2017
Standard Deduction u/sec 17(1) can be claimed max limit Rs.50000.
Tax and Business Consultant
11616 Points
Joined July 2015
@ Sabyasachi ji
Standard deduction of Rs. 50,000 is available u/s 16(ia),... not 17(1)
28122 Points
Joined May 2017
Yes ,its a typographical error.wrong quote of section.
It has been increased to 50000 from AY 21 22
Tax and Business Consultant
11616 Points
Joined July 2015
@ Sabyasachi ji
It has been increased to 50,000 from A.Y 20 21 (i.e F.Y 2019-20) by Finance Act, 2019,...not A.Y 2021-22
Chief Accountant
3150 Points
Joined July 2020
Is standard deduction is available to Central/state government employees also.
Tax and Business Consultant
11616 Points
Joined July 2015
Yes,It is available to all class of employees irrespective of the nature of employer.
So, for Goverment Employee can also availed standard deduction of Rs. 50,000
Chief Accountant
3150 Points
Joined July 2020
Can I claim transport allowance of Rs.1600 p.m as available or not
Tax and Business Consultant
11616 Points
Joined July 2015
Exemption of transport allowance of Rs. 1600 p.m granted to an employee is discontinued from A.Y 2019-20 after introduction of standard deduction.
Chief Accountant
3150 Points
Joined July 2020
But sir as I know like, it's available if certain conditions are satisfied
Tax and Business Consultant
11616 Points
Joined July 2015
Exemption of transport allowance of Rs. 1600 p.m or medical allowance granted to an employee is discontinued from A.Y 2019-20.(After introduction of standard deduction)
However, exemption of transport allowance of Rs. 3200 p.m granted to an employee who is blind or deaf and dumb or orthopaedically handicapped is still available.
So, if you satisfied above conditions that you can claim that rs. 3200 p.m
Chief Accountant
3150 Points
Joined July 2020
If I satisfied this condition than can I claim both means 3200 p.m and 50,000
Tax and Business Consultant
11616 Points
Joined July 2015
Yes, you can claim both the Deduction at a time..
Chief Accountant
3150 Points
Joined July 2020
Thank you sir, one more query
If m receive pension than also Std. deduction available?
CAclubindia
