Standard deduction Rs.40000/-

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accountant
96 Points Joined June 2012
Pls explain if LTA and medical not not decduct by employer can I claim standard deduction rs.40000/-
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On 26 March 2019 at 11:06 Report
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SEO Sai Gr. Hosp.
210646 Points Joined July 2016

Yes, you can.

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On 26 March 2019 at 11:39
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Associate
163 Points Joined May 2015

Yes. Now you can claim only standard deduction of Rs.40000/- 

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On 26 March 2019 at 13:20
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*****Accountant***** Never insult to a
1448 Points Joined January 2017
can A person take standard deduction and exemption on rem. of medical and conveyance allowance both deduction and exemption together?
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On 27 March 2019 at 00:36
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Associate
163 Points Joined May 2015

No. Exemption on medical reimbursement upto Rs.15000/- and conveyance allowance of Rs.19200/- has been replaced with standard deduction of Rs.40000/-. w.e.f. 01/04/2018.

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On 27 March 2019 at 12:25
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Chartered Accountant
12739 Points Joined December 2016

it is FLAT DEDUCTION OF RS. 40,000 /- irrespective of actual received or not 

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On 27 March 2019 at 12:27
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accountant
96 Points Joined June 2012
a senior citizen who received pension can take standard deduction rs. 40000/- or not
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On 16 April 2019 at 16:43
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SEO Sai Gr. Hosp.
210646 Points Joined July 2016
 
 

a senior citizen who received pension can take standard deduction rs. 40000/- or not

YES Eligible from AY 2019-20.

  
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On 16 April 2019 at 17:18


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