Standered deduction

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84 Points Posted on 26 October 2020
i have buisness income plus salary income and regulerlly filed ITR 4.
can i claim standered deduction on salary income in ITR 4,
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On 26 October 2020 at 17:02 Report
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Quick Summary
This discussion clarifies whether you can claim the standard deduction on salary income when you also have business income and file using ITR 4. The consensus is that you can indeed claim the standard deduction of Rs. 50,000 on your salary income, even when filing ITR 4, as it is designed for individuals with business income.

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Accountant
3662 Points Posted on 26 October 2020
Yes, you can take Standard Deduction of Rs. 50000
1 Reply
On 26 October 2020 at 17:13
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84 Points Posted on 26 October 2020
Thanks
2 Reply
On 26 October 2020 at 17:15
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Profession
28261 Points Posted on 27 October 2020
NITIN


YOU MUST FILE ITR 1 .
NOT ITR 4.
INDIVIDUAL SALARY INCOME AND STANDARD DEDUCTION.
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On 27 October 2020 at 08:20
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Accountant
3662 Points Posted on 27 October 2020
You can file ITR 4

No restrictions to claim Standard Deduction
1 Reply
On 27 October 2020 at 08:49
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25 Points Posted on 28 October 2020
ITR1 is not for person having business income. So, you should have to file ITR4 and in that case you can claim standard deduction also
1 Reply
On 28 October 2020 at 06:50
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84 Points Posted on 28 October 2020
Thanks
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On 28 October 2020 at 11:21
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Profession
28261 Points Posted on 29 October 2020
Itr 4 is for presumptive scheme...
SO NO ITR 4
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On 29 October 2020 at 08:05

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