What Is Standard Tax Deduction For 2024. Standard deduction in the new tax regime will be increased from rs 50,000 to rs 75,000, finance minister nirmala sitharaman said tuesday as she announced the. The standard deduction is a fixed amount that employed individuals can subtract from their taxable salary income without needing to provide evidence of.
The additional standard deduction amount increases to $1,950 for unmarried taxpayers. 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.