Like to know whether standard deduction of Rs 50000 is applicable in new tax regime for a senior citizen for the FY 2022-2023 AYT 2023-2024. I am in confusion while filing my ITR return.
Kindly update me.
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STANDARD DEDUCTIONS OF 50000 APPLICABLE FOR NEW TAX REGIME FOR SENIOR CITIZEN
Replies (1)
It is applicable from AY 2024-25, not for current AY.
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