Standard Tax Deduction 2024 India 2024. It has been almost 5 years since standard deduction was revised; Hike tax bracket in new, old regime.

For salaried employees opting for new tax regimes, the standard deduction has been increased from ₹50,000 to ₹75,000. The new standard deduction of rs 75,000 will be applicable under the new tax regime, while family pensioners will benefit from a higher deduction of rs 25,000.