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standard Deduction
is standard deduction of 40000 in salaries applicable when there is only medical reimbursement and no transport allowance
Replies (3)
Standard deduction of ₹ 40,000 is available to all who have income under "Income from salaries" including pensioners.
As per finance act 2018 both medical reimbursement and transport allowance (except in case of differently abled person )) as deduction were withdrawn and only standard deduction of 40000/- applicable under head salaries .
okay thank you
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