A standard Deduction is basically a deduction allowed in Income Tax irrespective of the expenses incurred or the investment made by the individual.
No Disclosures / Investment Proofs / Expenses Bills are required for this type of Income Tax Standard Deduction as it is allowed at a standard rate.
Standard Deduction from rent :- 30% of Rent
Standard Deduction from Salary :- Rs.40,000/- (from 1st April 2018 onward)
No Disclosures / Investment Proofs / Expenses Bills are required for this type of Income Tax Standard Deduction as it is allowed at a standard rate.
Standard Deduction from rent :- 30% of Rent
Standard Deduction from Salary :- Rs.40,000/- (from 1st April 2018 onward)
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