What Is Standard Tax Deduction For 2024 In India. Finance minister nirmala sitharaman has announced an increase in the standard deduction for salaried employees by ₹ 25,000 in the. For salaried employees opting for new tax regimes, the standard deduction has been increased from ₹50,000 to ₹75,000.
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. Standard deduction limit for family pensioners hiked to rs 25,000 from rs 15,000.
