What is the amount which is allowed as standard deduction under section 16 from Gross salary while computing the Income under head salary?
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 maiden Joint Military Exercise FRINJEX-23 between Indian Army and French Army conducted at which of the following city?
According to the RBI advisory, banks, non-banking financial companies (NBFCs), and other financial institutions like NABARD & SIDBI will not be able to ...
Government of India has accorded 'In-Principle' approval for setting up of 21 Greenfield Airports, when did Greenfield Airports (GFA) Policy was formula...
Election Commission launched 'Mission-929' in which state?
Where are the headquarters of the BSE?
One Nation One Ration card was started as interstate profitability of ration cards in the year……………….
What was the theme for the International Day of Girl Child 2022?
Which platform is supporting Coca Cola India's initial association with ONDC for leveraging data-driven insights and market intelligence?
Intellect Design Arena Ltd, has signed a ₹80 crore, five-year deal with ________ to deploy Intellect’s eMACH.ai powered Cash Management System that ...
Recently who was appointed as new executive director of World Bank headquarters?