Standard Tax Deduction 2024 India . Now, both central and state government employees can deduct up to 14% of employer contributions towards nps. Finance minister nirmala sitharaman announced changes to the new income tax regime during the union budget 2024 presentation, providing some relief to taxpayers.
Currently, a standard deduction of rs 50,000 is allowed from salary and pension income to arrive at taxable income thereby reducing the total tax payable. Says rahul singh, senior manager, taxmann, tax and corporate advisor:
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Standard Deduction For 2024 India Tax Cecil Daphene , For salaried employees opting for new tax regimes, the standard deduction has been increased from โน50,000 to โน75,000.
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What Is Standard Deduction For 2024 India Eleen Bertina , Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024.
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2024 Tax Rates And Standard Deductions India Rania Phylis , Key changes include raising the standard deduction for salaried employees from โน50,000 to โน75,000 and increasing family pension deductions.
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2024 Tax Brackets And Standard Deductions India Blair Chiarra , The standard deduction limit has been increased to rs 75,000 under the new tax regime.