Income Tax Standard Deduction For Ay 2024-25

Income Tax Standard Deduction For Ay 2024-25. The changes in the income tax slabs raised the upper limit in two slabs by rs 1. Understanding the income tax slab rates and available deductions can significantly affect tax planning and overall financial health.

The standard deduction for salaried employees is proposed to be increased from rs 50,000 to rs 75,000, said fm sitharaman Speaking at the 165th anniversary of the income tax department on wednesday, august 21, the finance minister emphasised the ease of the new system, noting its lack of.