Income Tax Standard Deduction For Ay 2024-25 202425 India

Income Tax Standard Deduction For Ay 2024-25 202425 India. Yes, standard deduction of rs.50,000 or the amount of salary, whichever is lower, is available for both. The government of india levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds inr 50 lakh.

Understand the exemption limits, tax slabs, surcharges, and. Deductions and exemptions under the new tax regime slabs.