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 |
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
Chirag N Shah & Associates
Mumbai
CA Inter
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Gowra Ventures Pvt Ltd
Hyderabad
CA
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