Standard deduction Rs.40000/-
anand (accountant) (96 Points)
26 March 2019
Pls explain if LTA and medical not not decduct by employer can I claim standard deduction rs.40000/-
7 Replies
CA Charmie Jhaveri
(Associate)
(163 Points)
Replied 26 March 2019
Yes. Now you can claim only standard deduction of Rs.40000/-
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1448 Points)
Replied 27 March 2019
can A person take standard deduction and exemption on rem. of medical and conveyance allowance both deduction and exemption together?
CA Charmie Jhaveri
(Associate)
(163 Points)
Replied 27 March 2019
No. Exemption on medical reimbursement upto Rs.15000/- and conveyance allowance of Rs.19200/- has been replaced with standard deduction of Rs.40000/-. w.e.f. 01/04/2018.
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 27 March 2019
it is FLAT DEDUCTION OF RS. 40,000 /- irrespective of actual received or not
anand
(accountant)
(96 Points)
Replied 16 April 2019
a senior citizen who received pension can take standard deduction rs. 40000/- or not
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185261 Points)
Replied 16 April 2019
|
a senior citizen who received pension can take standard deduction rs. 40000/- or not YES Eligible from AY 2019-20. |
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