Standard Tax Deduction 2024 India
Standard Tax Deduction 2024 India. For taxpayers in the highest tax bracket, defined as individuals with a taxable income of rs 15 lakh or higher, the increased standard deduction limit will result in a savings. Under the new tax regime.
From hiking the standard deduction limit to tweaking the income tax slabs, the taxpayers want budget 2024 to introduce measures that will ease their financial burden. Nirmala sitharaman on tuesday announced that the standard deduction limit under the new tax regime has been revised to rs 75,000 from the existing rs 50,000.