What Is Standard Tax Deduction For 2024. 13 lakhs and eligible to claim. Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000.

The withholding tax rate on mutual fund income for resident individuals has been set at 10%.however, if the annual income from mutual funds exceeds rs. 13 lakhs and eligible to claim.