what is standard deduction
DIPESH PATEL (8 Points)
01 February 2018
as per budget standard deduction of Rs. 40000. what is it?
2 Replies
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 01 February 2018
It allows a standard deduction upto Rs 40,000/- or the amount of salary received, whichever is less. Consequently the present exemption in respect of Transport Allowance (except in case of differently abled persons) and reimbursement of medical expenses is proposed to be withdrawn.
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 01 February 2018
FLAT DEDUCTION TO SALARIED PERSONS IN LIEU OF TRANSPORT AND MEDIDICAL EXPENSES
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