February 01, 2025 , 7:21 am IST
Income Tax Budget 2025 LIVE: Standard deduction limit may increase
It is expected that this time there may be an increase in income tax cut and standard deduction limit in the budget to increase consumption. The budget is expected to increase the income tax exemption limit by Rs 50,000. The government can increase the standard deduction limit from Rs 50,000 to Rs 1 lakh. The standard deduction limit in Old Tax Resetam is Rs 50,000 and in New Tax Regime is Rs 75,000.