Standard Deduction

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  Budget 2025: What Is Standard Deduction And How It Benefits Taxpayers

  With the Union Budget 2025 set to be presented on February 1, Finance Minister Nirmala Sitharaman faces mounting expectations for tax relief as inflation rises and disposable income shrinks.

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  How Much Those Earning Between Rs 10-25 Lakh Will Save In Taxes Now

  Finance minister Nirmala Sitharaman on Tuesday increased the standard deduction for salaried employees from Rs 50,000 to Rs 75,000.

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  Union Budget 2024: Aimed At Helping Automotive Retail Industry

  The auto industry reacts to the Union budget 2024 with a positive approach. It believes the adjustments in personal taxation could improve retail.

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  "Save As Much As Rs 17,500": Finance Minister on New Tax Regime Slabs

  Standard deduction in the new tax regime will be increased from Rs 50,000 to Rs 75,000, Finance Minister Nirmala Sitharaman said Tuesday as she announced the 2024 Union Budget.

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  10 Key Changes In Income Tax Rules That Came Into Effect From April 1

  In Budget 2018, among the other income tax changes proposed, a standard deduction of Rs 40,000 for the salaried class was introduced.

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  Standard Deduction To Raise Tax Outgo Of Some Salaried Individuals. Details Here

  Salaried individuals in the highest tax bracket would end up paying more tax since the extra tax on 1% additional cess surpasses the benefit arising out of Rs 40,000 standard deduction

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  Budget 2018: PM Modi's Bounty For India. Ten Things To Know

  Union Budget 2018 offered a slew of goodies such as re-introduction of standard deduction to the tune of Rs 40,000 and the hike of exemption under the head of medical reimbursement for senior citizens

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  New Rs 40,000 Standard Deduction: How It Impacts Your Income Tax

  Finance Minister Arun Jaitley said introduction of standard deduction will benefit 2.5 crore salaried employees and pensioners.

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  Budget 2018: How Much Income Tax You Have To Pay In 2018-19

  In Budget 2018-19, Finance Minister Arun Jaitley announced a standard deduction of Rs 40,000 in place of exemptions allowed for medical reimbursement (Rs 15,000) and transport allowance (Rs 19,200).

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  Budget 2018: Five Income Tax Changes You Need To Know

  Finance Minister Arun Jaitley introduced a number of changes that will impact the income tax you pay, ranging from taxing long-term capital gains on investment in stocks and equity mutual funds to change in cess on income tax.

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  Arun Jaitley Introduces Rs 40,000 Standard Tax Deduction On Transport, Medical Expenses

  The total number of salaried employees and pensioners who will benefit from this decision is around 2.5 crores.

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  Budget 2018: Standard Deduction Reintroduced For Salaried Individuals

  Tax experts say that reintroduction of standard deduction will help salaried employees get some parity with respect to businessmen and other self-employed professionals, who can claim a number of expenses such as rent, staff expenses and driver's salary etc. as business expenditure and reduce tax burden.

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  Budget 2018 Highlights: No Change In Income Tax Slabs, Introduces Standard Deduction

  Finance Minister Arun Jaitley said the government has made many positive changes in individual tax rates in past three years.

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  Income Tax Slabs, Rates And Useful Deductions To Know

  The government may tweak income tax slabs and rates to bring down the burden on individuals, according to a survey by tax and advisory firm EY.

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  Budget 2018: Standard Deduction For Salaried Employees May Make A Comeback

  Chambers of commerce have suggested reintroduction of the standard deduction for salaried employees of at least Rs 1 lakh in Budget 2018.