What Is The Standard Deduction For 2024. The standard deduction is tied to inflation, so the amounts change a bit each year. Fm sitharaman hiked the standard deduction by 50% to ₹ 75,000 and tweaked tax slabs under the new income tax regime.
In a bid to give a boost to salaried taxpayers, finance minister nirmala sitharaman on tuesday increased the standard deduction limit from 50,000 to 75,000. Similarly, the deduction available for family pension is also proposed to be increased from rs 15,000 to rs 25,000.
How Much Is The Standard Deduction For 2024?
Income tax budget 2024 live update:
Nirmala Sitharaman's Budget 2024 Raises Standard Deduction To Rs 75,000 For Salaried Individuals And Pensioners, And Rs 25,000 For Family Pensioners.
Here are the standard deduction amounts set by the irs:
What Is The Standard Deduction For 2024 Images References :
Finance Minister Has Announced A Hike In The Standard Deduction Amount In New Tax Regime Hiked To Rs 75000 In Budget 2024.Also, Standard Deduction Limit For.
How much is the standard deduction for 2024?
For 2024, The Standard Deduction Amount Has Been Increased For All Filers, And The Amounts Are As Follows.
In a bid to give a boost to salaried taxpayers, finance minister nirmala sitharaman on tuesday increased the standard deduction limit from 50,000 to 75,000.