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What Is The Current Standard Deduction 2024
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What Is The Current Standard Deduction 2024. Budget 2024 has hiked the standard deduction limit from rs 50,000 to rs 75,000 under the new income. For complete details and guidelines please refer income tax act, rules and notifications.
The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2). Finance minister nirmala sitharaman has announced an increase in the standard deduction for salaried employees by โน 25,000 in.
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