New Standard Deduction For 2024. Published fri, sep 20 202412:01 pm edt. Standard deduction limit for salaried and pensioners hiked to rs 75,000 from rs 50,000.

Experts have called for a host of tax relief measures, one of which is the possibility of a reduction in standard deduction limit for taxpayers under the new tax. The initial employment deduction (ied) amounts have changed as a result of the tanf payment level increase.