The Budget proposals also seek to provide relief to salaried tax payers by allowing a standard deduction of what amount in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses?
Correct Answer: Rs. 40,000
Explanation:
The standard deduction of Rs. 40,000 is seek to provide relief to salaried tax payers in the Budget proposals in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses.
