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 .