Standard Deduction From Salary For Ay 2024-25. B) standard deduction of rs 50,000 is allowed on incomes from salary and pension. In this article we have discussed income tax deduction available to taxpayers from various sources of income for a.y.

Under the new tax regime, the tax rates are significantly lower, though the benefit of various exemptions and deductions (other than standard deduction of rs. Similarly, deduction on family pension for pensioners is proposed to be enhanced.