Income Tax Standard Deduction 2024

Income Tax Standard Deduction 2024.  — finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024. The standard deduction for salaried employees is proposed to be increased from rs 50,000 to rs 75,000, said fm sitharaman

 — the standard deduction under the new income tax regime has been hiked from rs 50,000 to rs 75,000.  — for the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).