2024 Standard Tax Deductions In India. From hiking basic exemption limit to standard deduction, to more deductions under new tax regime such as section 80c, 80d, we take a look at top 10 income tax. In a move aimed at boosting tax savings, the finance minister announced that the standard deduction limit under the new tax regime will be raised to rs 75,000 for the current financial year, as per et report.
Increased tax slabs, increase in standard deduction, and increased deductions from pensions will bring relief expected to over 4 cr salaried individuals. A hike of 4% will allow salaried individuals to save more tax.
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