Standard deduction in new tax regime

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47 Points Posted on 27 December 2023
is the standard deduction Rs 50000 is applicable in new tax regime for
AY 2024-25
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On 27 December 2023 at 13:13 Report
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This discussion clarifies the applicability of the £50,000 standard deduction within the new tax regime for Assessment Year 2024-25. It confirms that for salaried individuals, this deduction has been allowed since Financial Year 2023-24, provided the relevant form is completed.

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Profession
28271 Points Posted on 27 December 2023
New tax regime has to fill up a form and then
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On 27 December 2023 at 16:55
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Accountant
1227 Points Posted on 27 December 2023
For salaries people it is allowed from fy 23 24.
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On 27 December 2023 at 17:09
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Profession
28271 Points Posted on 29 December 2023
Prior to that
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On 29 December 2023 at 09:30

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