Standard Tax Deduction 2024 India. In this article we have discussed income tax deduction available to taxpayers from various sources of income for a.y. Finance minister nirmala sitharaman has announced an increase in the standard deduction for salaried employees by โน 25,000 in.
551, standard deduction the standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed. Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000.