What details are given in Form 16, Part B?
Follow that...
You can claim Rs. 40000/- as standard deduction u/s. 16(ia)
Rs. 2,500/- as profession tax u/s. 16(iii) and
Rs. 5000/- as entertainment allowance u/s. 16(ii), only if Governmental employee.
Without any other details, offer the remaining amount as 'salary'
Naveen Fintech Pvt Ltd
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CA Inter
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V.K. Ranjan & Co(Chartered Accountants)
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B.Com
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CAclubindia
