Standard Deduction For 2024 And 2024 Income. The tax year 2024 adjustments described below generally apply to income tax returns filed in 2025. In the 2023 budget, finance minister nirmala sitharaman introduced a standard deduction of ₹ 50,000 for salaried taxpayers and for pensioners, under the new tax regime, which.

Income tax slabs live updates: Budget 2024 has hiked the standard deduction limit from rs 50,000 to rs 75,000 under the new income tax regime.