What Is The Standard Deduction For 2024 Income Tax

What Is The Standard Deduction For 2024 Income Tax. A handful of tax provisions, including the standard deduction and tax brackets, will see new limits and thresholds. Make new tax regime the default tax regime for the assessee being an individual, huf, aop.

The finance minister in the 2023 budget included a standard deduction of rs 50,000 for salaried taxpayers and individuals getting pensions in the new tax regime. A handful of tax provisions, including the standard deduction and tax brackets, will see new limits and thresholds.