Income tax law allows a flat standard deduction of Rs. 50,000 from the salary

Deduction of house rent allowance to residential accommodation

Leave Travel allowance for claiming exemption of LTA

Allowance for Professional Development and daily expenses

Eligible to claim deductions under section 80CCC on investment in pension funds

Eligible to claim deductions under section 80D on investment in medical insurance

Can claim a deduction under the ITA for amount paid on donation.

Know more in detail on Income Tax Allowances & Deductions here…