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Standard Deduction Under New Regimd

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(Querist)
12 June 2023 Sir,

As per the last budget, standard deduction was allowed to the assessee who has opted for new regime as well. I want to know, in order to claim the standard deduction of Rs. 50000, whether there was any condition as to the gross total income?. Can it be availed by all assess who was opted under the new regime?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
12 June 2023 Yes, it can be availed by all the salaried employees adopting even new regime, but from AY 2024-25.
For AY 2023-24, the SD can be availed only in OLD Tax Regime.
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