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.
Who was awarded the 'Jeevan Raksha Padak' by the Hon'ble President of India?
How much of an export target has been set by APEDA for the current fiscal year (2022-23)?
The transfer of subsidies and incentives to beneficiaries through the direct benefit transfer (DBT) scheme has reached _______ so far in the current fin...
Neobanking startup ______ has secured a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI) to capitalize the lending busine...
SC in a 4:1 majority verdict upholds decision to demonetize the Rs ____ and Rs ____ denomination notes.
Consider the following statements with respect to the one time exemption given to the Life Insurance Corporation-
I.Life Insurance Corporation of...
What is ‘Shree Anna’?
Recently Ministry of Fisheries, Animal Husbandry and Dairying inaugurated 29 Mobile Veterinary Units and centralized call center in for the benefit of t...
Which of the following statements regarding the Neem Summit & Global Neem Trade fair is/are correct?
1. The Summit is organized in collaboration ...
__________________ became 102nd unicorn of the country after raising $33 million in a funding round.
