2024 Tax Brackets And Standard Deduction In India. Taxpayers can now choose to pay income tax at lower rates under the new tax regime slabs on the condition that they withdraw from being considered for specific exemptions and deductions. The standard deduction under the new income tax regime has also been hiked from the present rs 50,000 to rs 75,000.

While tax relief for the salaried class through increased standard deductions or adjusted tax brackets is on the table, some experts propose a. Check out the latest income tax slab for salaried, individuals and senior citizens by the.