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Standard deduction under section 16(ia) applied to salary examples, triggering revised tax computations and corrected assessment year reference. The corrigendum amends Annexure-I illustrations: examples previously labelled for one assessment year are to be read for the next assessment year; a numeric correction replaces Rs. 5,00,000 with Rs. 4,00,000 in Example 1 (Para A, serial (ii)); and a standard deduction of Rs. 40,000 is allowed in Examples 1-10, requiring revised total income and tax computations.
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Standard deduction under section 16(ia) applied to salary examples, triggering revised tax computations and corrected assessment year reference.
The corrigendum amends Annexure-I illustrations: examples previously labelled for one assessment year are to be read for the next assessment year; a numeric correction replaces Rs. 5,00,000 with Rs. 4,00,000 in Example 1 (Para A, serial (ii)); and a standard deduction of Rs. 40,000 is allowed in Examples 1-10, requiring revised total income and tax computations.
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