Is standard deduction of Rs. 50000/- applicable only to old regime?

Created by Product Content Team, Modified on Tue, 20 Feb at 11:01 AM by Product Content Team


The greytHR is ready with the new budget changes for the financial year 2023-24. As per the budget changes for the FY 2023-24, the standard deduction of Rs. 50000/- applies to both the old and new regimes


The budget changes will automatically reflect in the admin portal on the Income Tax page and in the ESS portal on the Declare Income Tax page.


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Related Links:

Video- To watch a video on Budget changes for FY 2023-24, click here.

FAQs: To read more about Budget changes for FY 2023-24, click here.

Documentation:

  • To learn more about the recent Budget changes for FY 2023-24, click here.
  • To learn more about the Tax Slabs of budget changes, click here.

Product Update- To read about the product update, click here.


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