Tag: Section 16 of the Income Tax Act for Financial Year 2023-24

 Section 16 of the Income Tax Act| Section 16 deductions help revise your taxable income to reduce  your tax liability. Standard deduction  Deduction from entertainment allowance paid by your employer Deduction at the professional rate from salary income Therefore, The standard deduction under Section 16(ia) – Under Section 16(ia), the standard deduction is the fixed deduction allowed from […]