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Mahesh Padmanabhan |120 Answers |Ask -Follow

Tax Expert - Answered on Feb 04, 2023

Mahesh Padmanabhan has specialised in payroll, personal and corporate taxation for more than two and a half decades, enabling him to provide practical, realistic and correct advice to his clients.
He is a member of The Institute of Chartered Accountants of India and has a degree in cost accounting from the Institute of Cost Accountants of India.
He is also a qualified information systems auditor. ... more

Question by Dipankar on Feb 02, 2023Hindi

Will the standard deduction of 50000/- introduced in new tax regime this budget be for all?

Ans: Hi Dipankar
Standard deduction of Rs. 50,000 was not introduced in this budget and was there for all salaried individuals. However, till the last year this standard deduction was not available to those individuals who opted for the new tax regime,

The current budget proposal aims at extending this benefit to individuals opting for the new tax regime as well

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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