Standard Deduction Under New Regimd
This query is : Resolved
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?
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?
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.
For AY 2023-24, the SD can be availed only in OLD Tax Regime.
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