Standard Deduction For 2024 Indian Tax

Standard Deduction For 2024 Indian Tax. The indian government has made these changes to simplify taxes and match the ever evolving economy. 1,50,000 12 is the aggregate of the deduction that may be claimed under sections 80c, 80ccc and 80ccd.

1) setting progressive individual income tax rates from zero percent for income up to 300,000 indian rupees (us$3,581) to 30 percent for income exceeding 1.5 million rupees (us$17,907); For salaried employees opting for new tax regimes, the standard deduction has been increased from ₹50,000 to ₹75,000.