Standard Deductions 2024 India. Standard deduction limit for salaried and pensioners hiked to rs 75,000 from rs 50,000. Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000.
You can’t take the standard deduction if you itemize your deductions. The budget expectations are high with wishlist from each sectors, and expectations for salaried taxpayers of substantial income tax relief with changes in the.