Thia Adelice

Standard Deduction For 2024 And 2024. For 2024, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,300 or the. 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.

Fm sitharaman hiked the standard deduction by 50% to ₹ 75,000 and tweaked tax slabs under the new income tax regime. In 2024, the income limits for every tax bracket and all filers will be adjusted for inflation and will be as follows (table 1).