Income Tax

Income Tax- Section wise Deductions for A.Y. 2020-21/F.Y. 2019-20

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section wise income tax deductions for fy 2019-20
SectionNature of DeductionWho can claim ? Against Salaries 16(ia)Standard Deduction [Rs. 50,000 or the amount of salary, whichever is lower]Individual – Salaried Employee & Pensioners 16(ii)Entertainment allowance [actual or at the rate of 1/5th of salary, whichever is less] [limited to Rs. 5,000]Government employees 16(iii)Professional Tax upto Rs 2500Salaried assessees Against income from House Property [...]