New Standard Deduction For 2025. The harris campaign on monday said she would push to increase the corporate tax rate to 28%, up from the 21% permanently enacted via the tcja. This allows taxpayers to have a higher disposable income.

In the 2023 budget, finance minister nirmala sitharaman introduced a standard deduction of ₹ 50,000 for salaried taxpayers and for pensioners, under the new tax regime, which became the default. In the old tax regime,.