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# pensioners

1 posts in `pensioners` tag

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Income tax

The New Tax Regime Advantage? Standard Deduction Changes for FY 2024-25 Explained

Grasping the concept of standard deduction is essential for every salaried person in India. Following the recent updates in the Union Budget 2024, the framework for standard deduction has changed, particularly within the new tax framework. This comprehensive guide clarifies what standard deduction entails, the updated limits for both regimes, eligibility criteria, advantages, and practical illustrations.