How Much Is The Standard Deduction For 2024 For Seniors

How Much Is The Standard Deduction For 2024 For Seniors. Section 194p is applicable from 1st april 2021. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for.

In a move aimed at boosting tax savings, the finance minister announced that the standard deduction limit under the new tax regime will be raised to rs 75,000. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;