Standard deduction in IT for senior citizen AY 2020-21

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Retired
114 Points Posted on 12 August 2020

I may please be advised as to how much is the standard deduction applicable to

Senior citizen with income from pension for the AY 2020-21

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On 12 August 2020 at 11:25 Report
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This discussion clarifies the standard deduction for senior citizens regarding pension income for Assessment Year 2020-21. It confirms that the standard deduction of Rs. 50,000, applicable to all individuals including senior citizens, covers income under the head 'salary'. The query also touches upon whether this deduction extends to family pension income.

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Tax and Business Consultant
11616 Points Posted on 12 August 2020
Standard deduction of Rs. 50,000 is applicable to all including senior citizens from income under head salary.
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On 12 August 2020 at 11:37
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Retired
114 Points Posted on 12 August 2020

Thanks a lot for the reply. god bless.

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On 12 August 2020 at 11:48
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Tax and Business Consultant
11616 Points Posted on 12 August 2020
You're most welcome....☺️
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On 12 August 2020 at 11:54
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18 Points Posted on 31 December 2021
Is this deduction applicable for family pension also?
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On 31 December 2021 at 15:59

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