October 3, 2024

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Standard Deduction For 2024 Tax Year

Standard Deduction For 2024 Tax Year. Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).


Standard Deduction For 2024 Tax Year

Here’s a look at the projected numbers for the tax year 2024, beginning jan. 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 $1,100 for heads of household.

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