Standard deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2013 Sir

Please tell me why & when Standard Deduction is applicable and on which amount it is applicable , also tell me for company and individual rate of standard deduction will be different ?.

Thanks & Rgds

Mukesh Kumar

Rupesh Jain

Rupesh Jain (Expert)
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29 May 2013 UNDER SALARY HEAD INCOME NO STANDARD DEDUCTION WILL AVAILABLE .

AND FOR TAX SLAB INDIVIDUAL INOCME UP TO RS 200000/- NOT TAX
200000-500000 = 10%
500000-1000000=20%
ABOVE 10 LACS 30%
+ 3% EDU CESS

IN COMPANY CASE
30%+5% sc IF INCOME ABOVE 1.00 CRORES+3% EDU CESS.

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