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Standard deduction u/s16
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.
Replies (4)
Quick Summary
Under 16(ia):standard definition - eligible amount of deduction is lower of 50,000 or taxable salary income.
Thank u for ur answer sir. But my doubt is "Should that amount be deducted from the salary is compulsory or his / her optional?"
It is compulsary.
Thank u vijay sir & naveen sir
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