standered deduction u/s 16 is allowed if salary is more than 500000 ?

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7 Points Posted on 17 January 2019
standered deduction u/s 16 is allowed if salary is more than 500000 ?
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On 17 January 2019 at 12:13 Report
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CA Student
15932 Points Posted on 17 January 2019

Yes, as there is no cap on salary for standard deduction.

From F.Y. 2018-19 a deduction of forty thousand rupees or the amount of salary whichever is less shall be allowed as standard deduction.

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On 17 January 2019 at 12:22
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2193 Points Posted on 18 January 2019
Yes, its deductible from salary without any restriction/limit.
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On 18 January 2019 at 17:45

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