How Much Is The Standard Deduction For 2024 In India

How Much Is The Standard Deduction For 2024 In India. Consultancy firm kpmg anticipates changes in the upcoming union budget, including doubling standard deduction to rs 1 lakh, increasing tax breaks.  — finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024.

Capital gains exemption limit hiked to rs 1.25 lakh. Also, standard deduction limit for family pensioners have been hiked to rs 25,000 from rs 15,000.