Standard Tax Deduction 2024 India

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.


Standard Tax Deduction 2024 India

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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