gunesh
asked over 3 years ago
Hi May I know, IS STANDARD DEDUCTION ALLOWABLE TO PENSIONERS?
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4 Answers
narahari
answered about 3 years ago
--Yes. Income tax act provides the standard deduction. -- The least of following is allowed as deduction: - 1/3rd of the family pension or
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CA Sandeep Bohra
answered over 3 years ago
--Yes. Income tax act provides the standard deduction. -- The least of following is allowed as deduction: - 1/3rd of the family pension or - Rs 15,000, whichever is lower
Archana
answered over 3 years ago
Hie Gunesh, **Yes** In case of family pension, a standard deduction to the extent of 1/3rd of the family pension or Rs 15,000, whichever of the two is lower is allowable.
Shubhangi Jain
answered over 3 years ago
Yes. The standard deduction is also allowable to pensioners.
