Dear professionals,
I had a little confusion regarding if standard deduction is applicable in new tax regime or not ? kindly reply as your convenience
thank you
Menu
STANDARD DEDUCTION ON SALARY IN NEW TAX REGIME
Replies (5)
Yes sec 115 bac
Yes it's available.
According to the following website, standard deduction is not available in case of the new tax regime.
https://cleartax.in/s/standard-deduction-salary
As per section 115BAC (2)(i) of the Income tax act standard deduction not available, please refer section 115 BAC of the Income tax act.
Only available in house property...
Recent Topic
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
Related Topics
CAclubindia
