Standard deduction for ay 2019-20
This query is : Resolved
19 July 2019
Dear Sir,
I have received Rs. 2,40,000/- for 2 months from employer thereafter I retired. Now, my question is that whether can I claim standard deduction of Rs.40000/- or Rs. 6666/- only for 2 months proporationatly.
Dear Sir,
I have received Rs. 2,40,000/- for 2 months from employer thereafter I retired. Now, my question is that whether can I claim standard deduction of Rs.40000/- or Rs. 6666/- only for 2 months proporationatly.
19 July 2019
You can claim standard deduction of Rs.40000/-
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20 July 2019
Standard deduction refers to a straight reduction of salary income up to Rs.40,000/-. [Section 16(i)(ia)]
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