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Interpretation of finance act 2019
Finance act 2019 amended standard deduction for salaried employees to 50k. However it also says w.e.f 1st day of April 2020. various articles are showing applicable from fy 19-20. So, for fy 19-20 is std dedn is 40k or 50k
Replies (3)
Standard deduction for F/Y 2019-20 is 50000/-
Act shows effective date 1.04.2020
Finance act 2019 amendments is applicable for AY 2020-21 or Fy 2019-20
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