Rahul Prajapati (Student) (2282 Points)
15 March 2019Need a clarification about FY 2018-19 taxation.
With the introduction of 40k standard deduction from 1st Apr, 18, is it allowed for individuals to get 40k deduction (medical reimbursement & conveyance allowance)
Can an employee also take Exemption for car fuel & maintenance reimbursement .
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 15 March 2019
Yes, both are independent of each other and can be claimed simultaneously as per provisions of the IT act.
Rahul Prajapati
(Student)
(2282 Points)
Replied 15 March 2019
can you please share provision for the same
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 15 March 2019
standard deduction u/s. 16(ia) upto 40K
Car allowance.. as perquisites u/s. 17(2) of IT act.
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