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Income Tax - Frequently Asked Questions (FAQs)

FAQ on New vs Old Regime [AY 2024-25]

Am I eligible for Rs. 50,000 standard deduction in the new tax regime?

Contents

Ans. Yes, Standard deduction of Rs.50,000 or the amount of salary, whichever is lower, is available for both old and new tax regimes from AY 2024-25 onwards.

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