i have 2 form 16 from different employer.
can i claim both standard deduction in my itr.
21 Replies
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 27 August 2020
No, Total standard deduction up to 50,000/- can only be claimed..
sabyasachi mukherjee
(27574 Points)
Replied 27 August 2020
Standard Deduction u/sec 17(1) can be claimed max limit Rs.50000.
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 27 August 2020
@ Sabyasachi ji
Standard deduction of Rs. 50,000 is available u/s 16(ia),... not 17(1)
Standard deduction of Rs. 50,000 is available u/s 16(ia),... not 17(1)
sabyasachi mukherjee
(27574 Points)
Replied 28 August 2020
Yes ,its a typographical error.wrong quote of section.
It has been increased to 50000 from AY 21 22
It has been increased to 50000 from AY 21 22
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 28 August 2020
@ 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
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
Nidhi
(Chief Accountant)
(3150 Points)
Replied 16 September 2020
Is standard deduction is available to Central/state government employees also.
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 16 September 2020
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
So, for Goverment Employee can also availed standard deduction of Rs. 50,000
Nidhi
(Chief Accountant)
(3150 Points)
Replied 16 September 2020
Can I claim transport allowance of Rs.1600 p.m as available or not
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 16 September 2020
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.
Nidhi
(Chief Accountant)
(3150 Points)
Replied 16 September 2020
But sir as I know like, it's available if certain conditions are satisfied
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 16 September 2020
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
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
Nidhi
(Chief Accountant)
(3150 Points)
Replied 16 September 2020
If I satisfied this condition than can I claim both means 3200 p.m and 50,000
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 16 September 2020
Yes, you can claim both the Deduction at a time..
Nidhi
(Chief Accountant)
(3150 Points)
Replied 16 September 2020
Thank you sir, one more query
If m receive pension than also Std. deduction available?
If m receive pension than also Std. deduction available?
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