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.
The cultivation of rice started in _____B.C.
A premilling hydrothermal treatment given to unhulled rice (rough rice) is known as
Providing temperature and humidity for normal development of embryo in egg is known as Incubation. What is the optical temperature and humidity is requi...
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The four principles of organic farming do not includeÂ
fruits are in general in nature:
Farmers Service societies were first established in the year
PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth was first announced in the 2023-24 Budget. What percentage of subs...
The albedo values for the cropped field is approximately ____ percent.
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