Income Tax Standard Deduction For Ay 2024-24

Income Tax Standard Deduction For Ay 2024-24. Standard deduction from salary income and family pension is extended to the employees who opt for new tax regime. A quick review (limited information) of the applicable provisions under the income tax act, 1961 for the f.

The revised basic exemption limit will be inr 3,00,000 and for every additional inr. Once the specified bank, as mentioned above, deducts tax for senior citizens above 75 years of age, there will be no requirement to furnish income tax returns by senior.