Standard Deduction For 2024 And 2024 . Budget 2024 has hiked the standard deduction limit from rs 50,000 to rs 75,000 under the new income. In a bid to give a boost to salaried taxpayers, finance minister nirmala sitharaman on tuesday increased the standard deduction limit from 50,000 to 75,000.
The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%. In a move aimed at boosting tax savings, the finance minister announced that the standard deduction limit.
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Standard Deduction 20232024 Understand the Standard Deduction , The 2024 standard deduction for tax returns filed in 2025 is $14,600 for single filers, $29,200 for joint filers or $21,900 for heads of household.
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