Standard Deduction to salaried Person by budget 2018 This standard deduction has been given in place of Transportation Allowance ( Rs 19200/-) and Med
Standard Deduction to salaried Person by budget 2018
This standard deduction has been given in place of Transportation Allowance ( Rs 19200/-) and Medical Reimbursement ( Rs 15000/-) total of the Deduction withdrawal is Rs 34200=19200+15000.
Whereas the New standard deduction is given Rs 40000/-
it would net effect of Rs 5800 = 40000-34200. Increase in the deduction.
This deduction is more beneficial to retired persons and persons who are not getting the benefits of medical reimbursement and transport allowance as they will get a flat Rs 40000/- deduction.
Whereas the New standard deduction is given Rs 40000/-
it would net effect of Rs 5800 = 40000-34200. Increase in the deduction.
This deduction is more beneficial to retired persons and persons who are not getting the benefits of medical reimbursement and transport allowance as they will get a flat Rs 40000/- deduction.
COMMENTS