Applicability of standard dedeution for a person having salary and business income

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A  person who works as part time accountant for different firms earning salary or accountant fee and derives salary as partner form a business. He works for 4 firms with each of them paying 6000 Rs./month.

!. Which ITR form should he use for e filing?

2. Is he eligible for standard deduction for the salary income received for working as accountant?

 

Replies (4)

1.  File ITR 3.

2. YES.

1 File Ur Itr3

2 Yes he is eligible for standard deduction of Rs 50000/- Under Salary Head If He is working as an accountant and receiving Salary Income

So to say he earns 288000 yearly. Do he have any other income, he needs form 16 from the employer. to my understanding, anyone employer gives form 16 he gets a 52500 exemption including professional tax.

Yes, he also receives salary from a firm where he is a partner. 


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