standard deduction

Customisation is the buzzword in health insurance as add-ons offer flexibility, but it may also lead to confusion

Worker unrest has gripped Bhiwadi's industrial belt, with protests erupting at multiple factories over Rajasthan's low minimum wage. Workers are demanding salaries comparable to neighbouring states like Haryana and Uttar Pradesh, citing significant disparities. While some companies are negotiating, the situation highlights a growing demand for better wages and working conditions.

The comments date back to last year, when Imad spoke about Raza’s late arrival for the PSL 10 final at Gaddafi Stadium in Lahore. Raza had taken a partial leave from the Qalandars squad to play a one-off Test for Zimbabwe against England in Nottingham.

Women are actively investing in India, moving beyond traditional savings. While participation in mutual funds and equities is rising, independent control over financial decisions, particularly tax planning, is still developing. Younger women show greater comfort with digital platforms and goal-based investing. This shift signifies a growing financial awareness and engagement across the nation.

The Bihar Police Constable (Operator) 2026 application window will shut today, March 31, closing the online process for recruitment in the technical cadre. The drive aims to fill 993 posts across categories, with reservations in place. Eligible candidates must complete registration and fee payment before the deadline to be considered for the multi-stage selection process.

Aam Aadmi Party MP Raghav Chadha proposed reforms to ease financial burdens, advocating for optional joint income tax filing for couples, full tax exemption on disability pensions for all wounded soldiers, and removal of bank minimum balance penalties. These proposals aim to create a fairer financial system for ordinary citizens amidst ongoing pensioner concerns.

Budget 2021 expectations: The increase in standard deduction in Budget 2021 will ease the tax burden of individuals.

India currently offers two parallel tax systems for individuals - Old Personal Tax Regime and New Personal Tax Regime. While the new regime is now the default option, the choice remains with the taxpayer.

Union Budget 2023 income tax: Here is how much will salaried taxpayers save in case Union Budget 2023 sees an increase in standard deduction from Rs 50,000 to Rs 1 lakh.

Union Budget 2024 income tax: Finance Minister Nirmala Sitharaman is expected to present the Interim Budget 2024 on February 1, 2024. Tax experts feel that there is a case for the standard deduction to be hiked.

Nirmala Sitharaman's Budget 2024 raises standard deduction to Rs 75,000 for salaried individuals and pensioners, and Rs 25,000 for family pensioners. This increases tax savings and reduces taxable income. Originally introduced in 1961, reintroduced in 2018, and last increased in 2019, it replaces medical reimbursement and transport allowance. Claim via income tax return.

While businessmen and consultants can claim exemptions against all kinds of expenses, for salaried employees, tax is deducted at source by the employer, which significantly lowers the take-home pay. A good way forward is by increasing standard deduction — not by a token amount, but substantially. standard deduction is the amount that gets subtracted from your taxable income.

Budget 2026 income tax expectations: Salaried taxpayers are looking at FM Nirmala Sitharaman to provide further relief under the new income tax regime, especially in the form of higher standard deduction limit.

Union Budget 2023: An increase in the standard deduction may serve multiple purposes and provide much-needed relief to salaried taxpayers!

Budget 2025 income tax expectations: standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a taxpayer. Personal tax experts are of the view that since no major exemptions and deductions are available under the new income tax regime, there is a strong case to hike the standard deduction.

Finance minister Nirmala Sitharaman on Saturday proposed to introduce new tax slabs with reduced rates for an annual income of up to Rs 15 lakh for those foregoing exemptions and deductions under a “simplified tax regime”.

The standard deduction is usually deducted from the gross salary and claimed as an exemption without having to show any proof of expenses