Standard Tax Deduction 2024 Indian Income

Standard Tax Deduction 2024 Indian Income. The july 2024 budget revised the income tax slabs under the new tax regime. Budget 2024 income tax expectations:

The standard deduction is a flat amount deducted from taxable salary income, allowing taxpayers to reduce their taxable income without submitting any proof or disclosures. Fm sitharaman hiked the standard deduction by 50% to ₹ 75,000 and tweaked tax slabs under the new income tax regime.