Standard Tax Deduction 2024 India. Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000. Finance minister nirmala sitharaman revamped income tax slabs under the new regime in union budget 2024 in a bid to make it more attractive.

Hike tax bracket in new, old regime. Higher standard deduction for taxpayers under new tax regime.