Income Tax Deductions AY 2019-20 (FY 2018-19)
Income Tax Deductions AY 2019-20 (FY 2018-19) [As amended by Finance Act, 2018] Section Nature of deduction Who can claim (1) (2) (3) Against ‘salaries’ 16(ia) Standard Deduction [Rs. 40,000 or the amount of salary, whichever is lower] Individual – Salaried Employee 16(ii) Entertainment allowance [actual or at the rate of 1/5th of salary, whichever… Read More »