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 ...

This standard deduction has been given in place of Transportation Allowance ( Rs 19200/-) and Medical Reimbursement ( Rs 15000/-) total of Deduction withdrawal is Rs 34200=19200+15000.

Whereas 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 flat Rs 40000/- deduction.