Dear Friend,
Section 16 of the Income-tax Act provides for a standard deduction of Rs.
40,000/- or the entire salary, whichever is less for A.Y. 2019-20.
The Income-tax return form provides an editable cell to allow for
individuals to enter either Rs. 40,000/- or their salary amount, if it is
less than Rs. 40,000/-
You should enter Rs. 40,000/- in the relevant cell in your Income-tax
return.
Regards
Mr. Sameer Latey
Mulund, Mumbai
-----Original Message-----
From: bhawani shankar verma
Sent: Saturday, April 20, 2019 11:03 AM
To: access
Subject: [AI] INCOME TAX STANDARD DEDUCTION FROM A.Y. 2019-20
hello accessindia!
A standard deduction sum of rs.40000/- has been provided since a.y. 2019-20.
my question is:
what figure I may put on standard deduction colomn of my ITR1 rs.40000/- or
rs.8000/- which I received for medical aid reimbursement from my bank?
I only receive transport allowance for handicapped, not general conveyance
allowance.
Please give specific reply to my query. don’t turn it towards accessibility,
captcha or other issues.
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Disclaimer:
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