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.
Consider the following statements about Lonar lake:
1. It is a saltwater lake located in peninsular India.
2. The lake was formed due...
Which virus strain has raised concerns for potentially being transmitted from pigs to humans?
Match the following Passes on LIST 1 and LIST 2 (wrt LIST A)
1) Burzil and Zojila –                   1. Uttarakhand
‘Eazy Connect’ Chatbot which will extend online customer service to social media platforms has been launched by __________.
Which is the state bird of Chandigarh?
BrahMos Aerospace was formed as a joint venture between Defence Research and Development Organisation (DRDO) of India and which other country?
In which state is the Sabarimala Temple located?
In Abdul Kalam Island, there is a missile testing site, which was formerly known as Wheeler island. It is in the state of:
What is the official language of Bihar?
Which of the following countries is not a part of Melanesia region in the pacific ocean?
