2024 Tax Bracket And Standard Deduction. Key changes include raising the standard deduction for salaried employees from ₹50,000 to ₹75,000 and increasing family pension deductions. The tax year 2024 adjustments described below generally apply to income tax returns filed in 2025.
People who are age 65 and over have a higher standard deduction than the basic standard deduction. Additionally, the rationalisation of tax rates will lead to an extra savings of rs 10,000, bringing the total savings for this group to rs 17,500.
2024 Tax Bracket And Standard Deduction Images References :