Standard Deduction For 2024 Tax Year

Standard Deduction For 2024 Tax Year. Standard deduction limit for family pensioners hiked to rs 25,000 from rs 15,000. The standard deduction isn't available to certain taxpayers.

Learn how the extra standard deduction can help older adults reduce their taxable income and save money in retirement. The finance minister in her interim budget 2024 speech has not announced any change in the standard deduction limit which is allowed as a tax break to salaried individuals.