Budget 2021 income tax: What is standard deduction and why salaried class wants it to be increased more than ever before
Budget 2021 income tax: A portion of the gross salary of a salaried person is deducted as Standard deduction and later claimed as an exemption. This was first introduced by the then Finance Minister Arun Jaitley in Budget 2018.
Budget 2021 income tax: With the Union Budget 2021 coming during the Covid 19 era and work from home gaining momentum, salaried class is expecting some hike in the amount fixed as standard deduction. Source: PTI