Standard Deduction For 2024 Income Tax. Make new tax regime the default tax regime for the assessee being an individual,. Standard deduction limit for salaried and pensioners hiked to rs 75,000 from rs 50,000.
The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). Discover the ministry of finance’s latest tax changes:
