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Standard deduction

Others 346 views 7 replies
What is the maximum standard deduction allowed under section 16 for salary taxpayers??
Replies (7)
u/s 16(i) standard deduction is 40000 for A.Y 19-20
40,000 for a.y 2019-20 and 50,000 from a.y-2020-21 onwards
Sir if annual salary is 8L then also the standard deduction limit will remain same??

Yes ...

Thanks saloni mam, Actually i have one issue regarding tds return. We file our salary tds return in which we furnished the taxable income of employees 623000 and deposited tax on it but tds return got defaulted and justification report showing taxable income by a increase of 35000/- i.e taxable income 658000 and the same difference is showing in other two deductees taxable income.

Plz tell me why this 35000/- difference is showing as all taxes deposited accurately as per income tax slab???
Sandeep mail me the details at sabyasachimukherjee7098 @ gmail.com

1. From FY 2018-19, transport allowances and medical allowances got substituted to a standard deduction of Rs. 40,000 and for the FY 2019-20, it is Rs. 50,000. 
2. You might want to check whether transport and medical allowances are also claimed for those employees. That could be one reason. 
Please correct me if the above solution has an alternative view. 


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