Income Tax Standard Deduction 2024 India. Hence, an individual will need to analyse between the old. Finance minister nirmala sitharaman widened the slab for zero income tax and increased the standard deduction for all taxpayers in the july 2024 budget.

112/2024, dated 15 october 2024 and published on the same day, notifying several changes. The unanimous opinion of personal tax experts is that the standard deduction limit of rs 50,000, which was introduced in the new tax regime last.