Deduction in case of salarid employee

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auditor
22 Points Posted on 31 January 2021
Is requir to file income tax return previous year for taking deduction of rupees 50000 in current year in respect of salaried employee
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On 31 January 2021 at 08:36 Report
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This discussion clarifies the standard deduction of ₹50,000 for salaried employees. It's confirmed that you can claim this deduction when filing your current year's income tax return. Filing a return for a previous year is not a mandatory requirement to avail of this deduction, provided your income exceeds the basic exemption limit.

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Chartered Accountant
24588 Points Posted on 31 January 2021
If your income exceeds basic exemption limit then you can file return by deducting standard deduction of 50000 rupees
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On 31 January 2021 at 10:33
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17269 Points Posted on 31 January 2021
Please clarify elaborate your query
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On 31 January 2021 at 15:19
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Accountant
4533 Points Posted on 31 January 2021
No not compulsory. whenever you file salary return you will get deduction of 50000/-
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On 31 January 2021 at 21:53
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Chartered Accountant
86505 Points Posted on 01 February 2021
No such restrictions in act.
2 Reply
On 01 February 2021 at 00:23

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