WebHello friends ! In this video I am discussing about the section 16 under the head salary.Section 16 Deduction from salary1) standard deduction section 16 (ia... WebSection: Nature of deduction: Who can claim (1) (2) (3) Against 'salaries' 16(ia) Standard Deduction [Rs. 50,000 or the amount of salary, whichever is lower] Individual – Salaried Employee & Pensioners: 16: Entertainment allowance [actual or at the rate of 1/5th of …

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Web12 Jan 2024 · The Standard Deduction is a flat deduction from salary income to allow for medical and transport expenses, that are generally incurred by salaried individuals in relation to their employment. It is deducted from the gross salary of an employee and claimed as an exemption without any proof of expenses. Web11 Apr 2024 · at 10:40 am on April 11, 2024 34 comments. Over the long weekend, Abul Rizvi tweeted that an unprecedented 96,578 onshore student visas were granted in November and December 2024, which was more ... dwts weight measurement

For the Assessment Year 2024-21, standard deduction u/s 16 (ia) …

Web4 Apr 2024 · Every salaried taxpayer can seek a maximum deduction of up to ₹50,000 under Section 16 (ia) of the Income Tax Act of 1961. This standard deduction is now available to taxpayers who receive pension income as well. It is worth noting that this standard deduction was previously only allowed as a deduction to taxpayers opting for the old tax … Web13 Apr 2024 · 20%. Rs 12.5 lakh to Rs 15 lakh. 25%. Income above Rs 15 lakh. 30%. The new tax regime does not allow 70 deductions and exemptions (discussed in para 4). The tax … Web5 April 2024 5 Federal Tax Withholdings, Continued Procedures, continued Step Action 4 A new row will display. • Effective Date – The current date will display.This may be future dated but do NOT enter a date prior to the current date. • Federal Withholding Form Version – Select the 2024 or Later radio button (the Federal Withholding Elements will remain … dwts watch online