Standard Deduction On Salary For Ay 2024-25. Let us read more and understand about standard deduction under the income tax act. Under the new tax regime, the tax rates are significantly lower, though the benefit of various exemptions and deductions (other than standard deduction of rs.

These include a standard deduction of rs 50,000 from salary and pension income, and a deduction under section 80ccd (2) for the employer’s contribution to the. These calculators consider various factors, including your income,.