What Is The Standard Deduction For 2024. And for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the. But, to make your decision, you must know the standard deduction amount for each tax year and how additional standard deduction benefits exist for people over 65.
Standard deduction amounts the standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an. Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024.
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