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standard deduction Rs 40000

Union Budget 2018: No bill needed to claim Rs 40K standard deduction

The deduction of flat Rs 40,000 will be applicable to every salary earner and they can straightaway claim it.

Feb 02, 2018, 07:24 AM IST

Budget 2018: Salaried class gets standard deduction of Rs 40K. Here's what it means

Finance Minister Arun Jaitley did not provide any relief in the income tax rates for 2018-19. He however proposed to allow a standard deduction of Rs 40,000 in lieu of the present exemption in respect of transport allowance and reimbursement of miscellaneous medical expenses.

Feb 01, 2018, 17:22 PM IST