Standard Deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 April 2011
Respected Sir,
I want to know when Standard deduction is applicable,i.e.when we need to deduct it from Gross Total Income.
Thanks
I want to know when Standard deduction is applicable,i.e.when we need to deduct it from Gross Total Income.
Thanks
23 April 2011
Standard deduction is not applicable.
23 April 2011
Standard Deduction is not deducted from Gross Total Income.
Standard Deduction is deducted from the Net Annual Value in the case of Income from House Property in case there is a let out or deemed let out property under the head IFHP.
Earlier the term Standard was used U/s 16(i)
which was deductible from the Salary under the head Salary Income.
Standard Deduction is deducted from the Net Annual Value in the case of Income from House Property in case there is a let out or deemed let out property under the head IFHP.
Earlier the term Standard was used U/s 16(i)
which was deductible from the Salary under the head Salary Income.
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