Standard Tax Deduction 2024 Indian Income. Standard deduction limit hiked in the new tax regime to make the new tax regime more attractive, budget 2024 raised the basic exemption limit to rs 75,000 from rs 50,000 in the new tax. Use online income tax calculator available at groww to calculate your tax easily.

It also gives you a comparison of tax liability between the old and new tax regimes to help. Income tax calculator is a useful tool to determine tax liability with respect to income tax slabs.