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Raj Bhagwat
Hi, Good Morning All.
As you all know that the standard deduction of Rs.50 k allowed u/s 16(ia) of the Income Tax Act to the salaried employees.
I just want to know if an employee resigned or retired in the month of June (on 30th June) in a financial year, the standard deduction will be proportionately for 3 months is Rs.12450/- or it will remains Rs.50 k only.

Kindly comments...

Regards
Mr. Raj Bhagwat
Deputy Manager - HR

From India, Kalyan
KK!HR
1534

The standard deduction is for the earnings in the whole year. So it is Rs. 50K. The employee may draw some income after leaving service too.
From India, Mumbai
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