Current Standard Deduction 2024 Olympics. Currently, central government employees enjoy a deduction of up to 14% of salary while private sector employees enjoy only up to 10%. The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to.

What is standard deduction for salaried individuals? Currently, central government employees enjoy a deduction of up to 14% of salary while private sector employees enjoy only up to 10%.