Question

what is standard deduction

Answer 1

it is a united States tax law the standard deduction is a dollar amount that may subtract from their income before income tax is applied

Answer 2

hey mate !!!!
Here is ur answer.
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All paid employees are entitled to a standard deduction of rs 25000 salary up to rs 1 lakh and 20000 for Rs 1 lakh to 5 lakh and no deduction above Rs 5 lakh from the gross income for the assesment year 2006 - 2007.
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I hope it may helps u