Income Tax Standard Deduction 2024

Income Tax Standard Deduction 2024. Dipesh jain, partner, economic laws practice said, fm is expected to hike standard. Standard deduction limit hiked in the new tax regime to make the new tax regime more attractive, budget 2024 raised the basic exemption limit to rs.

Also the income tax slabs have been adjusted for fy. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).