If you have taken employment with more than one employer during the financial year, it is necessary to report salary income from all employers in ‘Schedule S’. You should obtain Form 16 from each employer to help you file a return.
A Standard Deduction of Rs. 50,000 is an absolute and unconditional deduction allowed to an employee, and it does not require any supporting evidence or investment. This deduction can be claimed only once per year, regardless of the number of job changes during that period. Therefore, you cannot claim the deduction of Rs. 50,000 twice for the salary received from both employers.