Income Tax Standard Deduction 2024 India. However, the taxpayers would be able to claim the following deductions under the new tax regime: The cabinet committee on economic affairs (ccea), led by prime minister narendra modi, has approved the pan 2.0 project, a transformative initiative aimed at.
For salaried employees opting for new tax regimes, the standard deduction has been increased from โน50,000 to โน75,000. You just have to input your income and deduction details in the income tax calculator and it will calculate your tax liability along with surcharge and cess.