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Can I know about Standard Detection?
l can see some where about Standard Detection 50,000/- in ITR detection can I know what is Standard Detection? and why they detect this amount?
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Standard Deduction is FLAT deduction to salaried person of Rs. 50,000 irrespective of other amount actually incurred on transport allowance and reimbursement of miscellaneous medical expenses.
Unlike PGBP, Salaried employee has so other deductions, other than exemptions. To facilitate them, standard deduction of RS. 50,000 is provided to them. This includes all reimbursements, kinds of medical, transport..
Sec 16 (1) specifies that salary paid to salaried persons is subject to deduction of Rs.50000.
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