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40000standard deduction
is standard deduction of rs 40000 from pension only available to employee or retired person can deduct
Replies (5)
any taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs 40,000 or the amount of pension, whichever is less, under Section 16 of the (I-T) Act
Individuals having salary income can be claim standard deduction upto 40,000
sir/mam pensioners can also claim such deduction. plz check
yes employee and pensioners both are eligible.
Yes definitely you can avail.
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