Standard Deduction For Ay 2024-25 New Regime. Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024. 75,000 for taxpayers opting for the new tax regime (section 115bac).

On top of these exemptions, a standard deduction of 50,000 is available in both old and new regimes. Deduction for family pension under section 57, increase from rs.