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  2. cleartax.in › s › standard-deduction-salaryStandard Deduction for Salaried Individuals in New and Old ...

    Aug 2, 2024 · With effect from FY 2024-25, under the new tax regime, the standard deduction is increased to Rs.75,000. There has been no change to the old tax regime with respect to the standard deduction. Thus, salaried taxpayers are eligible for the standard deduction of only Rs.50,000 under the old regime.

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

    Apr 16, 2024 · Once a non-salaried taxpayer opts out of the new regime, they are ineligible to opt back in for future tax years. Conclusion: Navigating the new tax regime for FY 2023-24 (AY 2024-25) requires a comprehensive understanding of the exemptions and deductions available.

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  5. tax2win.in › guide › standard-deduction-salaryStandard Deduction for Salaried Individuals in New & Old Tax ...

    Jul 24, 2024 · As per Budget 2023, Salaried taxpayers are now eligible for a standard deduction of Rs. 50,000/- under the new tax regime also from Financial Year 2023-24. Q - My payslip says that I have deductions u/s (10) and (17), amounting to INR 87168.

  6. www.financialexpress.com › money › standardStandard Deduction in New Tax Regime 2023-24 for salaried ...

    Feb 6, 2023 · Considering that standard deduction will be available to salaried taxpayers in the new regime, effectively a salaried employee with an income of Rs 7.50 lakh would not be required to pay any...

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

    Jun 17, 2024 · 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.

  8. www.livemint.com › money › personal-financeHow salaried employees can calculate standard deductions for ...

    Mar 19, 2023 · For salaried individuals for the current financial year, i.e., FY 2022-23, here's how they can calculate standard deductions based on an exclusive interview with different industry experts....

  9. economictimes.indiatimes.com › wealth › taxNew Income Tax Slabs 2023-24: How much standard deduction can ...

    Feb 9, 2023 · Budget 2023 extended standard deduction to the new income tax regime. Salaried individuals, pensioners, and family pensioners can now avail of standard deductions even if they choose the new income tax regime.