2024 2024 Standard Deduction. Key changes include raising the standard deduction for salaried employees from ₹50,000 to ₹75,000 and increasing family pension deductions. Also read | income tax budget 2024 live:

A higher standard deduction will benefit all the salaried taxpayers, including those in the upper segment although it will entail some revenue loss for the government, the report. The provision allows eligible individuals.