1. Standard deductions of 40000 replaces 34200 existing reimbursements. So if you are in 20% tax slab with taxable income 10lac... U get 20% of 5800(40000-34200) i.e., *₹1160* benefit.
2. Edu cess increased from 3 to 4% so if your income is 10lac you are paying 112500 tax. 1% additional tax on this i.e., *₹1125*.
Ujjwal
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03 Feb 2018