Qruery regarding standard deduction

299 views 5 replies

Hello Sir,

I have a query regarding the newly introduced Standard Deduction (Rs. 40000/-) for salaried Tax Payers. My Question this regard is that this SD is for all salaried employee whether they are getting transport allowance and medical reimbursement or not. For Example :

Situation A :

Mr. X is a salaried employee and his salary Structure is as followed :

Basic                                       20000

HRA                                         6000

Medical Allowance                   1000

Travelling Allowance                2000

Special Allowance                   1500

Transport Allowance                    Nil

Medical Reimbursement              Nil

Gross Salary                          30500

Situation B :

Mr. Y is a salaried employee and his salary Structure is as followed :

Basic                                       20000

HRA                                         6000

Medical Allowance                   1000

Travelling Allowance                2000

Special Allowance                   1500

Transport Allowance                   800

Medical Reimbursement          1250 

Gross Salary                          32550

Now  I would like to know that Can Mr. X & Mr. Y both claim SD (Rs. 40000/-) ?

Replies (5)

Yes, both can claim Rs. 40,000/- SD, but Mr. Y will loose transport allowance of  Rs. 9600/- along with Medical Reimbursement of Rs. 15000/- (so, net benefit of Rs.15400/-)

Thank you so much

 

Most Welcome...

Sir,I am not getting TA, MEDICAL ALLOWANCE, can I claim standard deduction 2018-19.

Yes, but from FY 2018-19...........

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details