What is the meaning of Standard deduction for salaried tax payer??
and how can we claim in return?
please suggest.....
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Standard deduction??
Replies (7)
Std. deduction means no need for any proof for this deduction and it available to all salaried person without considering salary amount
for a person having salary of 3,00,000 his salary after std deduction will be 260000
STD def is luei of erstwhile medical reimbursement and transport allowance.
this is a blanket ded provided under the act and no proof is required
this is a blanket ded provided under the act and no proof is required
standard deduction of Rs 50000 for 19,200 as transport allowance and Rs 15,000 as medical reimbursement, which employees
without any proof u can claim deduction.
but in which section we can claim standard deduction????
16(ia)
16(ia).........
Standard deduction the name itself suggest that it is a Flat Deductions and no kind of proof etc is required to claim this deduction. It shall be claimed u/s 16(ia).
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