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Is Standard Deduction allowed toIndian Government pensioners during Assessment Year 2006-07 and at what rate ? |
Is Standard Deduction allowed toIndian Government pensioners during Assessment Year 2006-07 and at what rate ? No, Standard deduction is not allowed for the Assessment year 2006-07 . With effect from standard deduction has been withdrawn, as the income tax rates were libralised. You can have deductions from Pension Income for the savings you make during the year up to Rs. 1,00,000/- For detailed guidance on Income Tax, you may like to read the book "Income Tax for Employees and Pensioners' written by Mr. Dhingra, Retired Director of a Govt. Department, ad published by M/s JBA Publishers. The book is avilable from prominet book sellers of India. In case the same is not avilable in your town, you can write to M/s "CAREER BOOK WORLD, I-4/30 (Top Floor), Sector-16, Rohini, Delhi-110085. The book is priced @Rs. 95/-. For further details you can write at: careerbooks@gawab.com |
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