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
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
(Expert)
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.
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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