Standard Tax Deduction 2024 For Seniors Under 80c

Standard Tax Deduction 2024 For Seniors Under 80c. Deduction under section 80c of the income tax act 1961, allows taxpayers to reduce their taxable income by making specific investments or incurring certain. 1.5 lakh for investments like nsc, senior citizen savings scheme, etc.

Section 80c of the income tax act is the most popular income tax deduction for tax saving. Possible increase in income tax thresholds and section 80c limit;