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Section 16 of the Income Tax Act allows a standard deduction 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. Salaried individuals' standard deduction under the old regime is Rs.50,000 , whereas in the case of the new regime, the limit has been increased to Rs. 75,000 for the FY 2024-25.
The concept of confidentiality shall extend to_____?
Which section delas with the establishment of Depositor Education and Awareness Fund by the RBI under the Banking Regulation Act, 1949?
As per the Insurance Act, 1938 an insurance company shall not be wound up voluntarily except _________________
In the case of a private company, ________________, shall be the quorum for a meeting of the company
The authority of a partner to bind the firm conferred by Section 19 of the Act is called:
Under the Arbitration and Conciliation Act, 1996, what is the primary purpose of arbitration?
Which of the following words were added to the Preamble by 42nd Amendment Act, 1976?
The goods which form subject matter of sale
As per the Companies Act persons not eligible for appointment as an auditor of a company are ___________
Which of the following penalty can be imposed for contravention of the provisions of FEMA?