What Is Standard Tax Deduction For 2024 In India . The new standard deduction of rs 75,000 will be applicable under the new tax regime, while family pensioners will benefit from a higher deduction of rs 25,000. The standard deduction limit has been increased from rs 50,000 to rs 75,000, and the tax slabs have been revised.
The standard deduction, introduced in 2018 at rs 40,000, was raised to rs 50,000 in 2019. Standard deduction in the new tax regime will be increased from rs 50,000 to rs 75,000, finance minister nirmala sitharaman said tuesday as she announced the.
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