New Tax Regime 2024 Standard Deduction For Seniors. The revised new income tax slabs proposed in budget 2023 will require senior citizens (aged 60 years. Limit of standard deduction against salaried income has.
The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to โน75,000. Finance minister proposed to increase the standard deduction for salaried employees from โน50,000 to โน75,000.