Standard Deduction For 2024 Indian Tax. Income tax calculator is a useful tool to determine tax liability with respect to income tax slabs. The content on this page is only to give an overview and general guidance and is not exhaustive.
The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to โน75,000. From april 1, 2024, the new tax regime allows standard deduction of rs 75,000 from salary and pension income and section 80ccd (2) deduction up to 14% on basic salary for.
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