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.
Which among the following option(s) is/are definitely true?
. How is V related to U?
A # B means ‘A is the sister of B’.
A @ B means ‘A is the son of B’.
A & B means ‘A is the father of B’.
A % B m...
How is I related to F?
Pointing to a boy, Pankaj said: He is grandson of the woman who is mother – in – law of the husband of my mother. How is the boy related to Pankaj?<...
H is the son-in-law of G and is the brother-in-law of M who is the brother of K. K is the daughter of G. How is M related to G? Â
How is H related to N?
A girl said, 'the person standing there is my grandfather's only daughter's son'. How is the person standing related to the girl?
In a family of five persons, Reeva is the sister of Abhilash. Vijay is the brother-in-law of Abhilash. Pihu is the daughter of Vijay. Suresh is the fath...
'A @ B' means 'A is the father of B'. 'A & B' means 'A is the son of B'. 'A β B' means 'A is the daughter of B'. 'A # B' means 'A is married to B'. 'A ...
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