is standard deduction available for specified employee?
7 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 June 2019
Standard deduction available to Salary Income...
So, If earn income from salary then Assessee can claim "Standard Deduction".
So, If earn income from salary then Assessee can claim "Standard Deduction".
Manish
(Student)
(190 Points)
Replied 09 June 2019
irrespective of specified employee or non specified employee?
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 June 2019
Yes... Claim the benefit both employees.
CA Raj Doshi
(Practising CA)
(8944 Points)
Replied 09 June 2019
Whether standard deduction shall be allowable proportionately as per number of months worked with multiple employers in a year ????? whether standard deduction shall be on a pro-rata basis of number of months of employment. ??????
Rahul Falodiya
(16 Points)
Replied 09 June 2019
Read below section again, you will not raise these academic questions.
The income chargeable under the head "Salaries" shall be computed after making the following deductions, namely :—
[ia] a deduction of forty thousand rupees or the amount of the salary, whichever is less;
The income chargeable under the head "Salaries" shall be computed after making the following deductions, namely :—
[ia] a deduction of forty thousand rupees or the amount of the salary, whichever is less;
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