Standard Deduction 2024 India. No changes have been announced by the finance minister nirmala sitharaman in the income tax slab rates in interim budget 2024. While earlier there was no provision for standard deduction in the new tax regime, after budget 2023, now a rebate of rs 50,000 is available in this regime, no.
Each salaried person with an income of rs 15.5 lakh or more will stand to benefit by rs 52,500,” finance minister nirmala sitharaman said in her budget speech. Since then maximum deduction amount has been kept unchanged.
Former Finance Minister Arun Jaitley Introduced The Standard Deduction.
While earlier there was no provision for standard deduction in the new tax regime, after budget 2023, now a rebate of rs 50,000 is available in this regime, no.
Unlike Dividends, Which Are Taxed At.
Jan 12, 2024 17:42 ist.
Standard Deduction Hike In Budget 2024:
Images References :
The Taxpayers Can Switch Between The Old And The New.
Budget 2023 extended standard deduction to the new income tax regime.
In Filing Income Tax Returns, Deductions Represent Expenses Eligible For Reducing Taxable Income.
The previous instance was in 2019.
No Changes Have Been Announced By The Finance Minister Nirmala Sitharaman In The Income Tax Slab Rates In Interim Budget 2024.