What Is The Standard Deduction For 2024 Income Tax. Income tax slabs 2024 highlights: The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to ₹75,000.

Last time, the standard deduction was hiked to rs 50,000 in interim budget 2019 (effective from april 1, 2019). $13,850 for single or married filing separately.