Income Tax Standard Deduction 2024. The standard deduction amounts will increase to $14,600 for individuals and married couples filing separately, representing an. The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to โน75,000.
For comparison, the standard deduction amounts for single taxpayers and married taxpayers filing separately was $14,600 in 2024. 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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