Dear Sir, I want to know that if one of my employee working with company only for six months and remaining six month he is self employed, how much amount of standard deduction can i give him. Rs. 50k or RS 25k. Please advice
Standard deduction applicable to salaried people is Rs50000 for financial year 2019-20 A/Y 2020-21.
He is entitled to full Rs50000 deduction or amount of gross salary whichever is lower.
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