Deductions from salaries
(1)
The income chargeable under the head "Salaries" shall be computed after making the deductions of the nature as mentioned in column B of the following Table, to the extent as mentioned in column C of the said Table:— Table Sl. No. Nature of sum Amount of deduction A B C 1. Sum paid by the assessee as a Entire amount. tax on employment as per article 276(2) of the Constitution, leviable by or under any law. 2. Standard deduction. (a) ₹ 75,000 or the salary, whichever is less, where income-tax is computed under section 202section 202(1);
(b)
₹ 50,000 or the salary, whichever is less, in any other case. 3. Death-cum-retirement gratuity Entire amount. received as referred to in sub-section (2)(g). 4. Payment of retiring gratuity Entire amount. received under the Pension Code or Regulations applicable to the members of the defence services. 5. Gratuity received under the Amount received, as Payment of Gratuity Act, 1972 restricted to the amount (39 of 1972). calculated as per the provisions of section 4section 4(2) and (3) of that Act. 6. Any other gratuity received by Amount being minimum an employee— of—
(ii)
the members of the all-India services;
(iii)
the members of the defence services;
(iv)
the members of the civil services of a State, or the holders of civil posts under a State; or (v) the employees of a local authority or a corporation established by a Central Act or State Act or Provincial Act. 8. Payment in commutation of (a) If the employee has pension is received under any received gratuity, the commuted scheme from any other employer. value of one-third of the pension, which he is normally entitled to receive;
(b)
in any other case, the commuted value of one-half of such pension; A B C (c) such commuted value being determined having regard to the age of the recipient, the state of his health, the rate of interest and officially recognised tables of mortality. 9. Payment in commutation of Entire amount. pension received from a fund as specified in Schedule VII (Table: Sl. No. 2). 10. The value of any travel concession Entire amount. or assistance received by an employee from his employer or former employer for himself and his family members, in connection with his proceeding on leave to any place in India or to his hometown or to any other place. 11. The value of free medical treatment Entire amount.
(2)
For the purposes of this section, "salary" means the salary as defined in clause (1) of section 17section 17 and includes the dearness allowance, if the terms of employment so provide.
(3)
The deduction under sub-section (1) in respect of any provision made by the employer for payment of any gratuity that has become payable during the tax year shall not be allowed, if the provision is made in respect of gratuity payable on retirement or termination of employment of the employee.
(4)
No deduction shall be allowed under sub-section (1) in respect of any sum referred to in sub-clause (i) of clause (e) of that sub-section, unless the employer makes a provision for such payment in his accounts.