How is Standard Deduction calculated on Quicko?
The standard deduction is a flat deduction from your taxable salary that provides tax relief to all salaried individuals. It was introduced to simplify tax compliance by replacing smaller allowances like medical reimbursement and transport allowance, and removes the need to submit supporting documents.
How is the Standard Deduction Calculated on Quicko?
The standard deduction is a fixed amount and is automatically applied on Quicko based on the salary details you enter.
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It is applied after exemptions under Section 10 (like HRA, LTA) are claimed on your gross salary.
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You don't need to enter it manually—Quicko takes care of it for you!
Note: If you switched jobs during the financial year, you can still claim the full standard deduction of ₹50,000 across all your salary incomes. It is not limited per employer, but per individual.
Steps to check the standard deduction
- Navigate to File > Incomes > Salary and click on the salary card
- Under Salary Summary, you'll be able to verify the amount availed as standard deduction
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