| Question And Answer | |
|---|---|
| Subject: | Standard deduction under Sec 80 TTB for AY 2022-23 |
| Category: | Income-Tax |
| Querist: | vswaminathan |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Standard deduction |
| Date: | July 6, 2022 |
Should not the deduction u/s Sec 80TTB for Rs. 50,000, being a standard deduction , same way as the standard deduction in respect of salary income, be allowed to a SC/SSC irrespective of his opting for the old or new regime; especially if he claims no other ineligible deduction as specified ?
NOTE: Refer the Poser raised with the CBDT/CPC , also vide Post on FB/ Linkedin, to which no response has been received so far.
Once the assessee opts for the new tax regime under section 115BAC of the Income-tax Act, 1961 (Act), he is not allowed to claim deduction under action 80 TTB of the Act, inter alia. This has been clarified under section 115BAC (2) of the Act.
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