DEDUCTION FROM SALARY INCOME cs executive tax law mcq notes



Posted on 06-05-2016        By ADMIN



DEDUCTION FROM SALARY INCOME cs executive tax law mcq notes

The following deductions from salary income are admissible as per Section 16 of the Income-tax Act

(i) Professional/Employment tax levied by the State Govt. 

(ii) Entertainment Allowance- Deduction in respect of this is available to a government employee to the extent of Rs. 5000/- or 20% of his salary or actual amount received, whichever is less. 

It is to be noted that no standard deduction is available .




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