Union Budget 2025: What is Standard Deduction? Why does it attract attention before each budget?
Zee Business Video Team | Updated: January 9, 2025 06:24 PM IST
The standard deduction is always a hot topic before each budget, and 2025 will be no exception. People often ask for it because, as a business owner, you can reduce your taxable income by deducting legitimate business expenses. However, some people try to push the limits and deduct expenses that aren't directly related to their business. On the other hand, salaried employees have fewer tax-free benefits compared to business owners.
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