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.
What significant milestone did IREDA achieve in its annual financial results for FY 2023 - 24?
Which policy, approved by the Union Cabinet, aims to replicate the IT industry revolution of the 1990s in the biotechnology sector?
1st Khelo India Fencing Women's League is being held in which city?
Who is appointed as the next Prime Minister of Israel?
Who is the author of the book 'Revolutionaries: The Other Story of How India Won Its Freedom'?
ICICI Prudential Life Insurance has announced the launch its digital-first campaign featuring which of the following Indian Cricketer?
State Bank of India (SBI) has appointed __________ as deputy managing director (DMD) & head of digital banking.
What key role does KABIL aim to play through its MoU with CSIR-IMMT?
The Rajasthan government has approved _____ to strengthen the micro irrigation system in the state which will help 50,000 farmers construct farm ponds i...
Which of the following statements is true regarding the MEDITECH STACKATHON 2024 launched in New Delhi?