Standard Deduction For 2025 Indian Government . Budget 2024 How the changes in new tax regime will benefit the Under the new tax regime, individuals earning up to ₹12 lakh will be exempt from income tax, marking a substantial increase from previous limits Salary here means basic salary plus dearness allowance.
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This article will explain all the key features of the New Income Tax Regime. This deduction is available under Section 80CCD (2) of the Income Tax Act
Budget 2024 India Live Wini Coralyn Union Budget 2025: Indian taxpayers expect the government to offer a higher standard deduction, which brings tax relief to salaried taxpayers. High-income earners are subject to a surcharge imposed by the Indian government. The increase to ₹75,000 under the new tax regime in 2024 reflects the government's efforts to make the tax system more.
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Iowa Standard Deduction 2025 Jayme Melisse . Under Section 80CCD(2), deduction is available on an employer's contribution to the National Pension Scheme (NPS) Salaried employees will enjoy an additional ₹75,000 standard deduction, bringing their tax-free income ceiling to ₹12.75 lakh.
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