u/Prudent-Paramedic182

Received "Seeking information/clarification on the data in the return filed' mail

On perusal of the Return of Income filed, it is seen that the Standard Deduction claimed under section 16(ia) in Schedule Salary is at variance with the limit applicable to the tax regime selected by you. Under the New Tax Regime, the Standard Deduction allowable under section 16(ia) is Rs. 75,000/-, while under the Old Tax Regime, the limit is Rs. 50,000/-. Since the deduction claimed does not correspond to the regime-specific limit, the income chargeable under the head "Salaries" is proposed to be recomputed by allowing the Standard Deduction as applicable to the regime selected, under section 143(1)(a) of the Income-tax Act, 1961

Proposed Adjustment to Total Income 25000

The tax demand will be based on 25K or will it be more than that?

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u/Prudent-Paramedic182 — 9 days ago