Standard Deduction For Ay 2024-25 New Regime. The third proposal of the budget provides major relief to the salaried class and the pensioners including family pensioners as the finance minister proposed to extend. B) increase in the rebate limit to rs.7 lakh in the ‘new tax regime’.

On top of these exemptions, a standard deduction of 50,000 is available in both old and new regimes. Check out the latest income tax slab for salaried, individuals and senior citizens by the it department.