What is the meaning of Standard deduction for salaried tax payer??
and how can we claim in return?
please suggest.....
Menu
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).
Recent Topic
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
Related Topics
CAclubindia
