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.
The Global Carbon Budget report indicated a projected CO2 emissions rise of 0.8% in 2024. What percentage of total global CO2 emissions was attributed t...
Who is the author of the book “Bachelor Dad: My Journey to Fatherhood and More”?
How much has the centre disbursed as interest-free 50-year capex loans to states out of the sanctioned amount of Rs 1.1 trillion so far in the current f...
Which of the following Asian countries is not a member of G 20 Organization?
____________ has delivered the 5th and final vessel of the 5 Coast Guard Offshore Patrol Vehicle (CGOPV) Project. The vessel was named ICGS ‘Saksh...
Government of India has accorded 'In-Principle' approval for setting up of 21 Greenfield Airports, when did Greenfield Airports (GFA) Policy was formula...
Who was recently elected as the new Secretary General of the World Customs Organization (WCO)?
Which state government has launched the Mukhyamantri Kanya Sumangala Yojana, a scheme aimed at empowering girls and promoting their financial inclusion,...
Which composition from "The Goat Life" album received an HMMA nomination?
To restore the old pension scheme a panel has been set up by which state of India?