What Is Standard Tax Deduction For 2024 Income Tax

What Is Standard Tax Deduction For 2024 Income Tax. While sitharaman proposed an increase in standard deduction by ₹ 25,000 and a change in tax structure under the new regime, those filing returns under the. It also increased the standard deduction limit to rs 75,000 from rs 50,000 under the new regime.

“it also doubled the standard deduction, and doubled and expanded the child tax credit, which made the tax code simpler and provided targeted tax relief for the middle class. New tax regime slabs revised, standard deductions hiked by ₹ 25,000.