2024 Standard Deduction For Seniors Over 70. The finance minister proposed to increase the standard deduction for salaried employees from rs 50,000 to rs 75,000. There are seven federal tax brackets for tax year 2025.


2024 Standard Deduction For Seniors Over 70

If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to. Exemption limit for family pension increased from rs 15,000 to rs.

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