Is Standard Deductions allowed in proportionate - employee resigned or retired in the month of June

Raj Bhagwat

Hi, Good Morning All.
As you all know that the standard deduction of Rs.50 k allowed u/s 16(ia) of the Income Tax Act to the salaried employees.
I just want to know if an employee resigned or retired in the month of June (on 30th June) in a financial year, the standard deduction will be proportionately for 3 months is Rs.12450/- or it will remains Rs.50 k only.

Kindly comments...

Regards
Mr. Raj Bhagwat
Deputy Manager - HR
16th July 2022 From India, Kalyan

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KK!HR

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Raj Bhagwat

Deputy Manager - Hr

KK!HR

1422

The standard deduction is for the earnings in the whole year. So it is Rs. 50K. The employee may draw some income after leaving service too.
16th July 2022 From India, Mumbai

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Is Standard Deductions allowed in proportionate - employee resigned or retired in the month of June

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