How Much Is Standard Deduction 2024 In India. The finance minister in the 2023 budget included a standard deduction of rs 50,000 for salaried taxpayers and individuals. Budget 2024 is just around the corner, and there are many expectations and speculations.
Amongst the key expectations is a potential increase in the standard deduction limit from the current rs. The most common wish for a salaried.
The Standard Deduction, Introduced In 2018 At Rs 40,000, Was Raised To Rs 50,000 In 2019.
Salaried individuals, pensioners, and family pensioners can now avail of standard deductions even if they choose the new income tax regime.
Taxpayers Can Claim Deductions For Investments Made In The Notified Pension Scheme Under Section 80Ccd(2).
Will standard deduction of rs 50,000 get a hike?
How Much Is Standard Deduction 2024 In India Images References :
Currently, A Standard Deduction Of Rs 50,000 Is Applicable Under Both The Old And New Income Tax Regime.
Standard deduction refers to a specific portion of the total income you earn that is free from being taxed.