Income Tax Standard Deduction For Ay 2024-25 Tax

Income Tax Standard Deduction For Ay 2024-25 Tax. In india, income tax liability is calculated on the basis of your applicable slab rates. In this article we have discussed income tax deduction available to taxpayers from various sources of income for a.y.

Check out the latest income tax slab for salaried, individuals and senior citizens by the it department. Yes, standard deduction of rs.50,000 or the amount of salary, whichever is lower, is available for both.