2024 Standard Tax Deduction Chart 2024. In a move aimed at boosting tax savings, the finance minister announced that the standard deduction limit. Standard deduction limit for salaried and pensioners hiked to rs 75,000 from rs 50,000.
The top marginal income tax rate of 37 percent will hit. The budget 2024 announced a rs.25,000 hike in the standard deduction under the new regime.