How Much Is The Standard Deduction For 2024 Tax Return

How Much Is The Standard Deduction For 2024 Tax Return. 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. The standard deduction was hiked from rs 50,000 to rs 75,000.

 — the standard deduction for salaried employees is a flat ₹50,000 from total income under the head salary.  — the ministry of finance introduced significant amendments aimed at enhancing tax benefits under the new regime.