Sub regarding 23.5.2023

This query is : Resolved

ANIL BHATI (Querist)
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27 May 2023 Dear Sir, One simple yet logical query.
How to calculate / claim standard deduction for the following :
(1) Gross Taxable Salary Rs.75000/-
(2) 80-C Deduction Rs.25000/-
(3) Prof. Tax Rs.600/- so net taxable salary Rs.75000-25000-600 = Rs.49400/- In this case my question is whether standard deduction for FY 2022-23 to be claimed as Rs.50000/- or Rs.49400/- (net taxable income) because if we claim Rs.50000/- then taxable income comes in negative (-)600. So please guide. Thanks in Advance

dear sir
My question is how to calculate 80c deduction 26600 explane plz

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 May 2023 It's like this salary 75000 less standard deduction 50000 and less prof tax 600.
So 80c deduction restricted to the balance income of 24400.

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