What Is Standard Deduction For 2024 India. The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to ₹75,000. The standard deduction is a fixed amount that employed individuals can subtract from their taxable salary income without needing to provide evidence of actual.

The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to ₹75,000. Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024.