Standard deduction u/s16

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Tax Consultant
136 Points Posted on 10 July 2020
Will the standard deduction u/s 16 (Rs.50,000) be deducted from salary is compulsory or optional? If his/her salary is below basic exemption limit.
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On 10 July 2020 at 23:15 Report
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Quick Summary
This discussion clarifies whether the standard deduction of Rs. 50,000 under Section 16 of the Income Tax Act is compulsory or optional. The consensus is that it is indeed compulsory for all salaried individuals. The eligible deduction is the lower of Rs. 50,000 or the taxable salary income.

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193 Points Posted on 11 July 2020
Under 16(ia):standard definition - eligible amount of deduction is lower of 50,000 or taxable salary income.
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On 11 July 2020 at 04:00
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Tax Consultant
136 Points Posted on 11 July 2020
Thank u for ur answer sir. But my doubt is "Should that amount be deducted from the salary is compulsory or his / her optional?"
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On 11 July 2020 at 08:58
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155 Points Posted on 11 July 2020
It is compulsary.
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On 11 July 2020 at 13:55
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Tax Consultant
136 Points Posted on 11 July 2020
Thank u vijay sir & naveen sir
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On 11 July 2020 at 16:46

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