i have 2 form 16 from different employer.
can i claim both standard deduction in my itr.
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Standard deduction
Replies (21)
Quick Summary
No, Total standard deduction up to 50,000/- can only be claimed..
Standard Deduction u/sec 17(1) can be claimed max limit Rs.50000.
@ Sabyasachi ji
Standard deduction of Rs. 50,000 is available u/s 16(ia),... not 17(1)
Standard deduction of Rs. 50,000 is available u/s 16(ia),... not 17(1)
Yes ,its a typographical error.wrong quote of section.
It has been increased to 50000 from AY 21 22
It has been increased to 50000 from AY 21 22
@ Sabyasachi ji
It has been increased to 50,000 from A.Y 20 21 (i.e F.Y 2019-20) by Finance Act, 2019,...not A.Y 2021-22
It has been increased to 50,000 from A.Y 20 21 (i.e F.Y 2019-20) by Finance Act, 2019,...not A.Y 2021-22
Is standard deduction is available to Central/state government employees also.
Yes,It is available to all class of employees irrespective of the nature of employer.
So, for Goverment Employee can also availed standard deduction of Rs. 50,000
So, for Goverment Employee can also availed standard deduction of Rs. 50,000
Can I claim transport allowance of Rs.1600 p.m as available or not
Exemption of transport allowance of Rs. 1600 p.m granted to an employee is discontinued from A.Y 2019-20 after introduction of standard deduction.
But sir as I know like, it's available if certain conditions are satisfied
Exemption of transport allowance of Rs. 1600 p.m or medical allowance granted to an employee is discontinued from A.Y 2019-20.(After introduction of standard deduction)
However, exemption of transport allowance of Rs. 3200 p.m granted to an employee who is blind or deaf and dumb or orthopaedically handicapped is still available.
So, if you satisfied above conditions that you can claim that rs. 3200 p.m
However, exemption of transport allowance of Rs. 3200 p.m granted to an employee who is blind or deaf and dumb or orthopaedically handicapped is still available.
So, if you satisfied above conditions that you can claim that rs. 3200 p.m
If I satisfied this condition than can I claim both means 3200 p.m and 50,000
Yes, you can claim both the Deduction at a time..
Thank you sir, one more query
If m receive pension than also Std. deduction available?
If m receive pension than also Std. deduction available?
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