Income Tax Standard Deduction 2024 India. The standard deduction limit has been increased from rs 50,000 to rs 75,000, and the tax slabs have been revised. Be it the old tax regime slabs or the new ones, the income tax slabs of india embody a mechanism through which individual taxpayers in india pay their income tax, based on the slab.
The government has increased the standard deduction limit to rs 75,000, allowing the salaried class to save up to rs 17,500 in taxes. Be it the old tax regime slabs or the new ones, the income tax slabs of india embody a mechanism through which individual taxpayers in india pay their income tax, based on the slab.