Standard Deduction For 2024-25 202425 In India. Learn about the options available to taxpayers and make. Recently, in budget 2024, the government has revised the slab rates for taxpayers under new tax regime.

The government of india levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds inr 50 lakh. Standard deduction, which is at rs 50,000, was included in the new income tax regime by fm nirmala sitharaman in last year’s budget.