In case of a person who is getting pension from his previous employer and at present employed with another employer and drawing salary also.
In this case, whether the amount of standard deduction is allowed cumulatively @ 40000/- on both pension+salary I.e. {(pension+salary)-40000} or he is eligible for standard deduction separately from pension and salary I.e. {(Pension-40000)+(salary-40000)}. Please clarify?
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Standard Deduction u/s 16(ia)
Replies (2)
The deduction u/s. 16(ia) is deductible only once under head 'salary' income, be the assessee employed with more than one employer.
So, first option is correct.
Thanks
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