Current Standard Deduction 2024 Income Tax. Union finance minister nirmala sitharaman on tuesday (july 23) under new tax regime, hiked the standard deduction to ₹ 75,000 from the current ₹ 50,000. In the february 2019 interim budget, the standard.

However, it is unclear if trump endorses the.  — sitharaman also announced that the standard deduction for employees who have opted for the new tax regime will be hiked by rs 25,000 to rs 75,000.