Union Budget Union Budget: Standard reduction increased from Rs. 50,000 to Rs. 75,000
Several benefits to provide tax relief to salaried individuals and pensioners opting for the new tax regime were announced by the Union Finance and Corporate Affairs Minister Nirmala Sitharaman while presenting the Union Budget 2024-25 in the Parliament on Tuesday.
The Finance Minister proposed to increase the standard deduction for salaried employees from ₹50,000 to ₹75,000.
.jpg)
Also, deduction on family pension for pensioners is proposed to be enhanced from ₹15,000 to ₹25,000 under the new tax regime.
This will provide relief to about four crore salaried individuals and pensioners.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
