Question
Which of the following deductions is/are available as
deduction from income under both the old and new tax regime of Income Tax?Solution
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.
RRBs will have a target of _____ of their outstanding advances for priority sector lending and sub-sector targets.
Tritium is an isotope of:
Famous Mukheshawar Temple & Ananta Basudeva temple is located in which state?
Great Bear' is the name of a:
Euro is not the currency of which of the following country?
Which organization launched a joint initiative with IASST Guwahati for the commercialization of probiotics derived from traditional Northeast Indian foods?
Which of the following bank had been recently penalized by RBI to an amount of three crore
As per a recent report by Reserve Bank of India, which of the following is the largest source of FDI into India?
Which of the following is the state of origin of the Odissi dance form?
Where is the National Metallurgical Laboratory located?
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