Income Tax Standard Deduction For Ay 2024-25. Hra is another significant component for many salaried individuals. Under the new tax regime, the highest surcharge rate of 37% on income above inr 5,00,00,000 has been reduced to 25%.
In india, income tax liability is calculated on the basis of your applicable slab rates. A comparison of the deductions and exemptions available under the new and the old tax regime is given below.
Check Out The Latest Income Tax Slabs And Rates As Per The New Tax Regime And Old Tax Regime.
Deduction is limited to whole of the amount paid or deposited subject to a maximum of rs.
Make Informed Decisions For Maximum Savings.
The default option is the new tax regime.
Income Tax Standard Deduction For Ay 2024-25 Images References :
There Has Been No Official Announcement Regarding An Increase In The Section 80C Deduction Limit For Budget 2024.
By avneet kaur updated dec 13, 2023.
50,000, Which Is Applicable Under Both Tax Regimes.
C) deduction on employer’s contribution to nps account is available up to 10% of basic salary (14% for government employees).
