Standard Deduction For 2024 Income Tax

Standard Deduction For 2024 Income Tax. Make new tax regime the default tax regime for the assessee being an individual, huf, aop. Income tax slabs 2024 highlights:

5,000, the tax is applicable. In a bid to make the new tax regime more lucrative, the fm proposed to hike the standard deduction limit to rs 75,000 from earlier rs 50,000, exclusively under the new tax regime.