Mohd. Zeeshan (57 Points)
04 July 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 04 July 2019
1. According to sec 16(ia) standard deduction will be allowed to an employee if he earns a salary income.
2. In your case income earned up to October and pension earned from November, both will be charged to tax under the head salary and standard deductions of Rs. 40,000 will be allowed during the year.
Please correct me if the above solution has an alternative view.
CA Navya Tejas
(Chartered Accountant)
(132 Points)
Replied 04 July 2019
40000 will be your standard deduction. Pension too forms part under Income from the head salary.
CAclubindia
