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Q.

What was the standard deduction in income tax Act ? Why S D introduced in income tax Act? Why S D deduction was given to only salried persons ? Why S D deduction was not given to business man ?

Tags: money, income, business man
Asked by subodh kumar goel, 12 Oct '13 04:53 pm
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Answers (2)

1.

Standard deduction was allowed to salary people only because they were not allowed to show every petty expenses in the accounts books, whereas business men could write in the books of account every expense that they made for the family, education of children, medicines, servants etc.
Answered by Quest, 13 Oct '13 01:53 pm

 
  
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2.

Standard deduction was allowed to salary people only because they were not allowed to show every petty expenses in the accounts books, whereas business men could write in the books of account every expense that they made for the family, education of children, medicines, servants etc.
Answered by Om Shrivastava, 12 Oct '13 04:56 pm

 
  
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