2024 Standard Tax Deduction Chart In India

2024 Standard Tax Deduction Chart In India. On top of these exemptions, a standard deduction of 50,000 is available in both old and new regimes.  — from hiking the standard deduction limit to tweaking the income tax slabs, the taxpayers want budget 2024 to introduce measures that will ease their financial burden.

Standard deduction limit hiked in the new tax regime to make the new tax regime more attractive, budget 2024 raised the basic exemption limit to rs 75,000 from rs 50,000 in the new tax regime. Deduction on employer’s nps contribution for private sector employees hiked to 14% from 10%.