The new measure will benefit all salaried employees and pensioners
without the hassle of filing supporting documents or bills.
Till now, taxpayers had to furnish medical bills and an undertaking
for conveyance expenses to get the benefit of Rs 19,200 under transport
allowance and Rs 15,000 under the medical allowance.
Salaried
taxpayers and pensioners need not have to furnish any bills or
documents to claim the standard deduction of Rs 40,000 announced in the
budget 2018-19 Financial Year.
“The
budget, this time, has given a large benefit of flat Rs 40,000 as a
standard deduction to the salaried class of taxpayers and pensioners.
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“Earlier,
some people were getting conveyance allowance and some medical
allowance on the basis of production of bills, but now we have removed
all individual allowances on a production of certain bills among others.
It is flat Rs 40,000 to every salary earner. You can straightaway claim
it,” Chandra said.
The Central Board of Direct Taxes (CBDT) is the policy-making body of the Income Tax department.
