2024 Standard Deduction Married Jointly In India. Fm sitharaman hiked the standard deduction by 50% to โน 75,000 and tweaked tax slabs under the new income tax regime to provide more money for the salaried. The standard deduction under the new income tax regime has been hiked from rs 50,000 to rs 75,000.
A standard deduction is a flat deduction of โน 50,000 to individuals earning a salary or pension income under the head salaries, irrespective of expenses or. For the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).