What Is Standard Tax Deduction For 2024 In India

What Is Standard Tax Deduction For 2024 In India. Taxpayers can now choose to pay income tax at lower rates under the new tax regime slabs on the condition that they withdraw from being considered for specific exemptions and deductions. Your standard deduction consists of the sum of the basic standard.

From hiking the standard deduction limit in the new tax regime to tweaking tax slabs to simplifying capital gains tax — budget 2024 has changed a host of tax rules that. In a relief to taxpayers, finance minister nirmala sitharaman announced a hike in the standard deduction limit under the new tax regime to rs 75,000 in the union.