Senior Standard Deduction For 2024 Tax Year. Standard deduction limit hiked in the new tax regime to make the new tax regime more attractive, budget 2024 raised the basic exemption limit to rs 75,000 from rs 50,000 in the new tax regime. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an increase of $750.
Also, standard deduction limit for family. This allows taxpayers to have a higher disposable income.
Senior Standard Deduction For 2024 Tax Year Images References :