2024 Standard Deduction. In a bid to give a boost to salaried taxpayers, finance minister nirmala sitharaman on tuesday increased the standard deduction limit from 50,000 to 75,000. Nirmala sitharaman on tuesday announced that the.

Fm sitharaman hiked the standard deduction by 50% to ₹ 75,000 and tweaked tax slabs under the new income tax regime. In a bid to make the new tax regime more lucrative, the fm proposed to hike the standard deduction limit to rs 75,000 from earlier rs 50,000, exclusively under the.