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2024 Standard Tax Deduction In India
(other than standard deduction of rs 50,000 from salary and rs. Budget 2024 income tax expectations:
The standard deduction of โน 50,000 was introduced in lieu of the exemption of transport allowance and reimbursement of miscellaneous medical expenses. To align with businessmen and professionals, there is an expectation.
The Concept Of Standard Deduction Was Introduced In India In 1974, Reinstated In 2018 As Part Of Broader Tax Reforms, Replacing Tax Benefits For Transport.
Salaried individuals, pensioners, and family pensioners can now avail of standard deductions.
7 Lacs For Resident Taxpayers, Standard.
This cap applies to all eligible investments and expenses combined under section 80c.
Images References :
B) Standard Deduction Of Rs 50,000 Is Allowed On Incomes From Salary And Pension.
Information relates to the law prevailing in the year of publication/ as indicated.viewers are advised to ascertain the correct position/prevailing law before relying upon any document.
To Align With Businessmen And Professionals, There Is An Expectation.
