Standard deduction when income is Pension + Income from business/profession (under new tax regime)
This query is : Resolved
17 July 2023
Dear Sir/Madam,
Please let me know whether standard deduction of Rs.50,000/- is available under the following circumstances:
(1) The individual is having pension income as well as income from business/profession/consultancy
(2) He/She is opting for new tax regime (FY 2022-23).
Thanks and regards.
Please let me know whether standard deduction of Rs.50,000/- is available under the following circumstances:
(1) The individual is having pension income as well as income from business/profession/consultancy
(2) He/She is opting for new tax regime (FY 2022-23).
Thanks and regards.
17 July 2023
For AY 2023-24 (FY 2022-23) under new tax regime, standard deduction of Rs. 50,000/- is not available.
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