Hi, Good Morning All. As you all know, the standard deduction of Rs. 50k is allowed under section 16(ia) of the Income Tax Act for salaried employees. I just want to know if an employee resigned or retired on 30th June in a financial year, will the standard deduction be proportionate for 3 months at Rs. 12,450/- or will it remain Rs. 50k only.
Kindly comment...
Regards,
Mr. Raj Bhagwat
Deputy Manager - HR
From India, Kalyan
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Kindly comment...
Regards,
Mr. Raj Bhagwat
Deputy Manager - HR
From India, Kalyan
Acknowledge(0)Amend(0)
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