Income Tax Standard Deduction For Ay 2024-25 25th March
Income Tax Standard Deduction For Ay 2024-25 25th March. The standard deduction for salaried employees is proposed to be increased from rs 50,000 to rs 75,000, said fm sitharaman (1) the enhanced surcharge of 25% & 37%, as the case may be, is not levied, on dividend income or income chargeable to tax under sections.
Significant updates to the new tax regime were introduced in budget 2023, with changes to the income tax slabs applicable for the current financial year from april. Below are the revised income ranges.