Standqrd Deduction
isha sharma (52 Points)
05 October 2018
Is Standard Deduction from Salary in combination with other like conveyance, medical PR internet allowance ??
2 Replies
CA Rakesh Joshi
(Chartered Accountant )
(1272 Points)
Replied 05 October 2018
Before the Budget 2018 there use to be deduction for Medical expenses and transportation expenses incured by the employees.
The above deductions replaced by giving Rs 40000 as standard deduction by inserting Section 16(ia).
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