Standard deduction on salary income section 16(ia)
According to Income Tax Act, 1961 reintroduced standard deduction from salary income
Quantum of Amount
1. Salary Income
Whichever is less
But some deduction withdrawn
1. Transport allowance of Rs. 1600 per month for the purpose of commuting between the place of residence to office place.
2.Any sum paid by employer in respect of any amount actually incurred by the employee for obtain his or his family members’ medical treatment maximum Rs. 15000.