Standard Deduction in New Tax Regime EXPLAINED
Standard Deduction in New Tax Regime introduced from FY 2023-24 onwards. You get flat deduction of Rs. 50,000 in both old and new tax regimes..
Standard Deduction in New Tax Regime introduced from FY 2023-24 onwards. You get flat deduction of Rs. 50,000 in both old and new tax regimes..
Standard Deduction limit is Rs. 50,000 for 2022-2023. Example: Gross income = Rs. 6,00,000, Std Deduction = Rs. 50,000, Taxable Income = Rs. 5,50,000..