Tax Day 2024 News Update. The budget 2024 announced a rs.25,000 hike in the standard deduction under the new regime. If your basic salary is rs 1 lakh, your employer can contribute rs 10,000 (10% of basic pay) to the nps on your.

From income tax slab changes, new income tax regime tweaks to an increase in standard deduction and section 80c limits, salaried taxpayers are looking at. Tax department unlikely to extend deadline.