2024 Standard Tax Deduction. The standard deduction of rs 50,000 is a flat deduction available under both the old and new tax regimes, to individuals earning salary and pension. New tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000.
In a major relief for working professionals, finance minister nirmala sithraman proposed that the standard deduction for professionals enrolled in the new tax regime will go. The revised tax slabs are as follows:
While The Tax Rates Remain As.
Updated jun 20, 2024 written by sabrina parys
How Much Is The Standard Deduction For 2024?
The union budget 2024 came to a close with finance minister nirmala sitharaman announcing a revised tax structure under the new tax regime.
2024 Standard Tax Deduction Images References :
Make New Tax Regime The Default Tax Regime For The Assessee Being An.
The irs released the 2024 standard deduction amounts for returns normally filed in april 2025.
Finance Minister Nirmala Sitharaman Said That.
Nirmala sitharaman’s budget 2024 raises standard deduction to rs 75,000 for salaried individuals and pensioners, and rs 25,000 for family pensioners.