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   What deductions are available under budget 2023?

   • Budget 2023 introduced certain deductions in the new income tax slabs. Eligible individuals can claim these deductions under the new tax regime from April 1, 2023. This deduction is available only to those taxpayers who have earned income under the head 'Income from salaries' during the relevant financial year.

   New income tax slabs 2023-24: Deductions you can claim under new ta…

   economictimes.indiatimes.com/wealth/tax/new-income-tax-slabs-2023-24-deductions-you-can-claim-under-this-tax-regime/1-deductions-under-the-new-tax-regime/slideshow/97694580.cms

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   What deductions can I claim under new tax regime for FY 2023-24?

   • One can claim a few selective deductions under the new tax regime for FY 2023-24, such as a standard deduction of Rs.50,000, interest on Home Loan u/s 24b on let-out property, employer’s contribution to NPS u/s 80CCD, Contributions to Agniveer Corpus Fund u/s 80CCH, Deduction on Family Pension Income (lower of 1/3rd of actual pension or 15,000).

   Income Tax Slabs FY 2023-24 & AY 2024-25 (New & Old Regime Tax Ra…

   cleartax.in/s/income-tax-slabs

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   Are salaried employees eligible for a standard deduction in 2023?

   • As per Budget 2023, salaried taxpayers are now eligible for a standard deduction of Rs.50,000 under the new tax regime also from the financial year 2023-24. The income tax law also provides for an LTA/LTC exemption to salaried employees, restricted to travel expenses incurred during leaves by them.

   Income Tax Allowances and Deductions Allowed to Salaried Individuals

   cleartax.in/s/income-tax-allowances-and-deductions

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   Can I Opt for a new tax slab regime in FY 2023?

   • For FY 2023-2024, taxpayers have the option to select between two tax regimes: the old tax regime or the new one. The income tax should be calculated by using the applicable slab rates. Can I claim 80C deductions and opt for a new income tax slab regime?

   Income Tax Slabs FY 2023-24 & AY 2024-25 (New & Old Regime Tax Ra…

   cleartax.in/s/income-tax-slabs

   See all results for this question

2. cleartax.in › s › income-tax-allowances-and-deductionsIncome Tax Allowances and Deductions Allowed to Salaried ...

   cleartax.in › s › income-tax-allowances-and-deductions

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   Jun 17, 2024 · For FY 2023-24, the limit of the standard deduction is Rs. 50,000 for both the old and the new regime. As per Budget 2023, salaried taxpayers are now eligible for a standard deduction of Rs.50,000 under the new tax regime also from the financial year 2023-24. Read more on Standard Deduction.

3. taxguru.in › income-tax › exemptions-deduction-newExemptions & Deduction under New Tax Regime for FY 2023-24 ...

   taxguru.in › income-tax › exemptions-deduction-new

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   Apr 16, 2024 · Explore the exemptions and deductions allowed under the new tax regime for FY 2023-24 (AY 2024-25). Learn about the options available to taxpayers and make informed decisions to optimize tax efficiency.

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6. cleartax.in › s › income-tax-slabsIncome Tax Slabs FY 2023-24 & FY 2024-25 (New & Old Regime ...

   cleartax.in › s › income-tax-slabs

   • Cached

   3 days ago · One can claim a few selective deductions under the new tax regime for FY 2023-24, such as a standard deduction of Rs.50,000, interest on Home Loan u/s 24b on let-out property, employer’s contribution to NPS u/s 80CCD, Contributions to Agniveer Corpus Fund u/s 80CCH, Deduction on Family Pension Income (lower of 1/3rd of actual pension or 15,000).

7. tax2win.in › guide › deductionsIncome Tax Deductions List - Section 80C to 80U Deductions FY ...

   tax2win.in › guide › deductions

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   Jun 26, 2024 · Income Tax Deduction under Chapter VIA of Income Tax Act refers to a reduction in the taxable income of an individual or a business entity, which results in a lower tax liability.

   • 4.5/5 (2K)

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8. www.incometax.gov.in › iec › foportalSalaried Individuals for AY 2024-25 | Income Tax Department

   www.incometax.gov.in › iec › foportal

   • Cached

   Tax Slabs for AY 2024-25. The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make new tax regime the default tax regime for the assessee being an Individual, HUF, AOP (not being co-operative societies), BOI and Artificial Juridical Person.

9. cleartax.in › s › 80c-80-deductionsIncome Tax Deductions List - Deductions on Section 80C, 80CCC ...

   cleartax.in › s › 80c-80-deductions

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   Jun 10, 2024 · Section 80 Deductions: A complete guide on Income Tax deduction under section 80C, 80CCC, 80CCD & 80D. Find out the deduction under section 80c for FY 2023-24, AY 2024-25

10. economictimes.indiatimes.com › wealth › taxBudget 2023: New income tax slabs 2023-24: Deductions you can ...

    economictimes.indiatimes.com › wealth › tax

    • Cached

    Feb 7, 2023 · Take a look at deductions allowed under the new tax regime. Standard deduction for salaried, pensioners and family pensioners. This deduction is available only to those taxpayers who have earned income under the head 'Income from salaries' during the relevant financial year.