Income-tax Act, 1961
Section - 16 - Deductions from salaries
Deductions from salaries.16. The income chargeable under the head "Salaries" shall be computed after making the following deductions, namely :-
| (i) | - | [***] |
| (ia) | - | a deduction of fifty thousand rupees or the amount of the salary, whichever is less: |
| - | 6[Provided that in a case where income-tax is computed under clause (ii) 6a[or clause (iii)] of sub-section (1A) of section 115BAC, the provisions of this clause shall have effect as if for the words "fifty thousand rupees", the words "seventy-five thousand rupees" had been substituted;] | |
| (ii) | - | a deduction in respect of any allowance in the nature of an entertainment allowance specifically granted by an employer to the assessee who is in receipt of a salary from the Government, a sum equal to one-fifth of his salary (exclusive of any .... To read the full section download the app from Google Play store
24 October 2026
CA Industrial TraineeFytomax Nutrition Private Limited Aurangabad CA Inter View Details
CCI
Pro
|
CAclubindia
