2024 Standard Tax Deduction Chart. The indian income tax act provides for various deductions under sections 80c to 80u, which can be claimed by an individual or a business entity while calculating. Budget 2024 has made changes in the deductions in the new tax regime.

Fm sitharaman hiked the standard deduction by 50% to ₹ 75,000 and tweaked tax slabs under the new income tax regime. 2024 standard deduction over 65.