Can we claim standard deduction of 50000 each for both employer as assessee was working with two employers in the fy or its 50k only we can claim
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Standard Deduction under section 16
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Only 50,000
Standard Deduction of rs 50000 only
The standard deduction amount cannot exceed ₹50,000. Even if your salary is more than this amount, you can deduct only this sum under Section 16. Also, if your net salary is less than ₹50,000, you can deduct a sum equal to your salary, and not more.Hence, you can claim a standard deduction of ₹46,000 only.
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