Standard deduction for fy 2018-19

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Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2018 Dear experts,

Please guide on standard deduction.
whether standard deduction rs.40000/- is applicable for fy 2018-19?
if applicable the should i deduct flat 40000/- from annual gross salary to calculate tax?

Please advice

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 May 2018 Yes standard deduction rs.40000/- is applicable for fy 2018-19 and deduct flat 40000/- from annual gross salary to calculate tax.

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Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2018 Many thanks R Seetharaman, so it clear that standard deduction will effect from FY 2018-19. Is Convey exemption & medical reimbursement will remove from same?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 May 2018 Yes Convey exemption & medical reimbursement will remove from same

Message likes : 2 times

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