Respected members,
I would like to know whether a person drawing consolidated salary per month is eligible for Standard Deduction of Rs.40,000/- in FY 2018 - 19..
Also, I wish to know the breakup of 4% Health and Education Cess.
Thank you
Vanisri
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Applicability of standard deduction in fy 2018 - 19
Replies (3)
Standard deduction of Rs. 40000/- is allowed without any codition.Standard deduction allows for a flat deduction from salary income, to make up for some of the expenses which an employee would typically incur in relation to his employment.
Now there is only one health and education cess @ 4%. No further breakup.
Now there is only one health and education cess @ 4%. No further breakup.
Thank you Sir.
Is the any proof for submitting to my employer for standard deduction is appicable to consolidated salary employee.
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