Standard deduction in salary

U/S:115 BAC(1) STANDARD DEDUCTION RS 50 000/- IN SALARY INCOME IS ALLOWABLE
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Quick Summary
The standard deduction of Rs 50,000 for salary income is generally allowable under Section 16(ia) for the financial year 2019-20 and for those opting for the old tax regime in FY 2020-21. However, if you choose to pay tax under the new tax regime introduced by Section 115BAC, this standard deduction is not permitted.

No in salary standard deduction is not allowable

Section 115BAC was inserted in Income tax law in Finance bill 2020. This section 115BAC is applicable from FY 2020-21 (AY 2021-22). 

For FY 2019-20:

If you are filling ITR for FY. 2019-20 then this section is not applicable. But you can avail deduction Rs. 50000/- u/s 16(ia).

For FY 2020-21: 

If you file ITR with old tax regime then you can avail standard deduction Rs. 50000/- u/s 16(ia).

But if you file ITR in new tax regime then you can not avail standard deduction Rs.50000/- u/s 16(ia).

No, if you opt to pay tax under the provisions of 115BAC, standard deduction will not be allowed

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