Standard deduction now available under both old and new tax regimes, affecting salaried taxpayers' taxable income. A standard deduction equal to the stated ceiling or the amount of salary, whichever is lower, is available under both the old tax regime and the new tax ... Summary
Standard deduction now available under both old and new tax regimes, affecting salaried taxpayers' taxable income.
A standard deduction equal to the stated ceiling or the amount of salary, whichever is lower, is available under both the old tax regime and the new tax regime from the assessment year specified for implementation, reducing taxable salary income by the permissible deduction cap subject to comparison with actual salary.
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