A person not receiving medical allowance and transport conveyance in his salary stracture.can he avail standard deduction of Rs.40000 benefit.
Menu
Standard deduction of rs.40000
Replies (2)
YES HE CAN CLAIM . . . IF HE IS SALARIED EMPLOYEE
Hi,
The Standard deduction of Rs. 40,000 is introduced in the Budget 2018 and is applicable from 1st April 2018. This deduction has been allowed irrespective of the actual expenses incurred by the employee without the need to subit any proofs of bills whatsoever.
This dedcution has been introduced in lieu of Tansport Allowance and Medical Reimbursement and not Medical Allowance, starting from Financial Year 2018-19.
Therefore, in this case the standard deduction shall be allowed irrespective of the expense incurred and without any proofs.
Recent Threads
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
- Hiring Company Secretary Manager with 2 Years of P
- Updated Return _ Deduction
- Turf Club Veterinary Department. Procurement Manua
- I have wrongly shown itc in reclaimable itc inste
Related Threads
CAclubindia
