Standard Deduction 2024 . 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. Finance minister nirmala sitharaman has announced an increase in the standard deduction for salaried employees by ₹ 25,000.
Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024. The standard deduction for salaried employees is proposed to be increased from rs 50,000 to rs 75,000, said fm sitharaman
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