2024 Tax Rates And Standard Deduction In India . Additionally, the income threshold for the 5%. C) deduction on employer's contribution to nps account is available up to 10% of basic salary (14% for government employees).
โ the hike in standard deduction will benefit salaried individuals and pensioners by reducing their taxable income, thereby lowering their tax liability. โ the standard deduction, which reduces the taxable income, has been increased from rs.
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Standard Deduction For 2024 Tax Lelia Nerissa , Some other changes have also been introduced.