How Much Is Standard Deduction For 2024 Taxes. The withholding tax rate on mutual fund income for resident individuals has been set at 10%.however, if the annual income from mutual funds exceeds rs. These tweaks will help salaried employees in the new tax regime save up to rs.17,500 (plus cess and surcharges, as applicable) in income tax, finance minister nirmala sitharaman said in her budget.
And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023. India celebrated its independence day on august 15, 1947, after gaining freedom from british rule.
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