Need 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 .
Yes, both are independent of each other and can be claimed simultaneously as per provisions of the IT act.
can you please share provision for the same
standard deduction u/s. 16(ia) upto 40K
Car allowance.. as perquisites u/s. 17(2) of IT act.
Thank You
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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