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July 10, 2018
Standard Deduction

Budget 2018 gives Rs.40,000 standard deduction, removes other allowances. With effective from 1st April 2018, Std Deduction of Rs.40,000 would be allowed from salary income. At the same time, Transport Allowance of Rs.19,200 and Medical Reimbursement of Rs.15,000 has been scrapped. So on a net basis, an additional deduction of Rs.5,800 is applicable for a […]

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