Income Tax Standard Deduction For Ay 2024-25 202425 Income Tax. To calculate your gross taxable income, you need to compute your net salary after subtracting your deductions, such as hra, lta, and standard deduction, from your gross salary. Highlights include revised tax slabs, increased deductions, and simplified taxation.

The content on this page is only to give an overview and general guidance and is not exhaustive. Deduction on employer’s contribution to the.