Income Tax Standard Deduction For Ay 2024-25 25th March

Income Tax Standard Deduction For Ay 2024-25 25th March. The standard deduction for salaried employees is proposed to be increased from rs 50,000 to rs 75,000. The government of india levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds inr 50 lakh.

The standard deduction for salaried employees is proposed to be increased from rs 50,000 to rs 75,000. Income tax audit needs to be conducted by certain specified taxpayers by september 30, 2024.