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IS STANDARD DEDUCTION ALLOWABLE TO PENSIONERS?

Open uri20170510 32134 ughyv5?1494421703 gunesh asked almost 3 years ago

Hi May I know, IS STANDARD DEDUCTION ALLOWABLE TO PENSIONERS?

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 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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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered almost 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

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Picsjoin 2017224123730582 Archana answered almost 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.

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Open uri20170510 32134 1uwcnoc?1494421631 Shubhangi Jain answered almost 3 years ago

Yes. The standard deduction is also allowable to pensioners.

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