Standard Tax Deduction 2024 . Indian middle class with salary income up to rs 15 lakh will gain if opting for the new tax regime. $14,600 for married couples filing.
The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. The standard deduction of rs 50,000 is a flat deduction available under both the old and new tax regimes, to individuals earning salary and.
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