1 Answers
Hi,
As long as the income falls under the definition of ‘Salary’, I believe that standard deduction can be claimed..
Annuity income and pension income falls under the head ‘income from salary’. However, family pension falls under the head ‘income from other sources’. So, a family pensioner may not be able to claim Standard deduction of Rs 40k for FY 2018-19 or AY 2019-20. Related Article : Rs 40,000 Standard Deduction from FY 2018-19 | Does it really benefit the Salaried?
Annuity income and pension income falls under the head ‘income from salary’. However, family pension falls under the head ‘income from other sources’. So, a family pensioner may not be able to claim Standard deduction of Rs 40k for FY 2018-19 or AY 2019-20. Related Article : Rs 40,000 Standard Deduction from FY 2018-19 | Does it really benefit the Salaried?
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