Standard Deduction For 2024 Indian Tax

Standard Deduction For 2024 Indian Tax. Its fixed amount and wide applicability offer. 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.

Other deductions are allowed under section 32, apart from additional depreciation. Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000.