Standard deduction

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SME
36 Points Posted on 31 July 2014

Hi Team,

Can you please advise if a person income is 1160500, is he applicable for Standard Deduction of Rs 200000/-

Also if you can check below and advise if it is correct or not...

Gross Salary 1160452
HRA 138096
  1022356
Others 15600
  1006756
Loan Amt 147394
  859362
Income from Other Sources i.e Int on Sav. a/c 2000
  861362
u/s 80 C 100000
  761362
u/s 80 TTA (Int of Sav) Exempt upto 10000 2000
  759362
Standard Deduction 200000
Final Taxable Amt 559362
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On 31 July 2014 at 17:35 Report
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Chartered Accountant
423 Points Posted on 31 July 2014
Hi what you are talking about is slab, which says initial 200000 are exempt. In case of any issue, pm me or mail me. A J H & CO anubhavjain @ ajhco.in 9868729930
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On 31 July 2014 at 17:48
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Chartered Accountant
423 Points Posted on 31 July 2014
Hi what you are talking about is slab, which says initial 200000 are exempt. In case of any issue, pm me or mail me. A J H & CO anubhavjain @ ajhco.in 9868729930
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On 31 July 2014 at 17:49
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SME
36 Points Posted on 31 July 2014

Yes, thats the one, as you can see the same in my calculation.

Actually, I am practising for accountancy so needs some knowledge of the same. So need to know if my calculation is correct or not.

Thanks and regards ...Raja

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On 31 July 2014 at 17:52

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