What Is The Standard Deduction For 2024 Income Tax

What Is The Standard Deduction For 2024 Income Tax. Budget 2024 has hiked the standard deduction limit from rs 50,000 to rs 75,000 under the new income tax regime. Make new tax regime the default tax regime for the assessee being an individual, huf, aop.

Currently, standard deduction of rs 50,000 is available under new as well as old tax regime. With the implementation of the new tax.