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New Tax Regime

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(Querist)
13 March 2021 Under new tax regime for individuals whether standard deduction u/s 16(ia) for Rs.50,000/- and Professional Tax u/s 16(iii)
are available ?
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CMA Poornima Madhava

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CMA Poornima Madhava (Expert)
13 March 2021 No, I don't think such deductions are allowable
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CA Gunjan Agarwal

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CA Gunjan Agarwal (Expert)
15 March 2021 Standard deduction & professional tax deduction is not allowed in new regime.




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