Question
What is the amount which is allowed as standard
deduction under section 16 from Gross salary while computing the Income under head salary?Solution
Section 16 of the Income Tax Act allows a standard deduction of Rs. 50,000 from the gross salary of an employee. This deduction is available to all salaried employees, irrespective of their income or deductions claimed under other sections. The standard deduction is a flat deduction, which means that it is not dependent on the actual expenses incurred by the employee. It is a way of providing a basic level of tax relief to all salaried employees.
Temperate Forests of the Western Himalayas are the Climatic Climax of the following:
Which one of the following is the error d f for a RCB experiment with six treatments replicated live times?
Which crop is heavily affected by powdery mildew:
‘Mehsana’ breed belongs to the species:
Ecological study of individual organism is known as
Extension Programme is a statement of situation, objectives, problems and:
The process of conversion of the subject matter into symbols is termed as:
Which crop is recommended for intercropping with Pigeon Pea to control wilt effectively?
Dental formula of Lemur is:
Asia’s largest 4 meter International Liquid Mirror Telescope was unveiled at Devasthal, Uttarakhand. The ILMT employs a rotating mirror made...
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