New tax slab for ay 2019-20 and fy 2018-19

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New tax slab for ay 2019-20 and fy 2018-19

I have a bit confusion about standard Deduction of rs 40,000 for ay 2019-20 in new income tax slab<a/>.is it for all employees or for specific tax payers?

Profile photo of Kuldeep Singh Asked By: Anonymous 1 replies 1 helpful answers Last Updated: 9 months, 2 weeks ago
  • Profile photo of Kuldeep SinghAnonymous

    I have a bit confusion about standard Deduction of rs 40,000 for ay 2019-20 in new income tax slab<a/>.is it for all employees or for specific tax payers?

  • Profile photo of Chetan ChandakChetan Chandak
    Moderator

    Standard deduction is applicable from A.Y. 2019-20 and it will be available to all the salaried individual @ Rs.  40,000 per year. Further the pensioner  can also claim the deduction for the pension received for their past services..

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