Deduction on salary and family pension enhanced for taxpayers ...

Salary & family pension deductions enhanced for new tax regime. Standard deduction up from Rs. 50K to Rs. 75K. Family pension deduction up to Rs. 25K/33.33%.

Notes Bill

August 3, 2024

Deduction on salary and family pension enhanced for taxpayers opting for new tax regime. Standard deduction on salary increased from fifty thousand to seventy five thousand rupees. Deduction on family pension increased from fifteen thousand to twenty five thousand rupees or thirty-three and one-third percent of such income, whichever is less. Amendments effective from April 1, 2025 for assessment year 2025-26 onwards.

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Deduction on salary and family pension enhanced for taxpayers ...

Salary & family pension deductions enhanced for new tax regime. Standard deduction up from Rs. 50K to Rs. 75K. Family pension deduction up to Rs. 25K/33.33%.

Notes Bill

August 3, 2024

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