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.
Statements: Some years are months
All months are weeks.
All weeks are days
Conclusions: I. All...
Statements:
Only a few Fried are Smoky
Mostly Smoky are Burner
Only Burner are Roaster
Conclusion:
I. All Smoky are R...
Statements:
Some squares are circles.
No circle is a traingle.                Â
Conclusions:
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statements:
Only a few Elements is Compounds.
Only a few Acids is Elements.
No Acid is Neutral.
Conclusions:
I. Every...
Statements:
Some Young are Youth.
All Youth are Teenage.
A few Teenage are Adult.
Conclusions:
I. Some Young are not Teenage.
II. Some Youth are Adult.
Statements: No data is a number.
Some numbers are not letters.
Only letters are consonants.
Conclusions: I. All letters may be co...
Statements:
All lion are tiger
No tiger is a cat
No lion is a dog
Conclusions:
I. Some lion are not cat
II. Some tiger are not dog
Statements:
Only Bike is Car.
Some Bike are Cheap.
Only a few Cheap are Heavy.
All Heavy are Expensive.
Conclusion...
In the question below there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be true ev...
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