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 on February 1, according to CBDT chief Sushil Chandra. “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. “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 production of certain bills among others. It is flat Rs. 40,000 to every salary earner. You can straightaway claim it,” Mr. Chandra told PTI. The Central Board of Direct Taxes is the policy-making body of the Income Tax Department.
Mr. Chandra said the new measure will benefit all salaried employees, without the hassle of filing supporting documents or bills. “Standard deduction means that it is without documentation. We will we give a flat Rs. 40,000 deduction out of the salary,” he said.

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 on February 1, according to CBDT chief Sushil Chandra. “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. “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 production of certain bills among others. It is flat Rs. 40,000 to every salary earner. You can straightaway claim it,” Mr. Chandra told PTI. The Central Board of Direct Taxes is the policy-making body of the Income Tax Department.
Mr. Chandra said the new measure will benefit all salaried employees, without the hassle of filing supporting documents or bills. “Standard deduction means that it is without documentation. We will we give a flat Rs. 40,000 deduction out of the salary,” he said.