What Is Standard Tax Deduction For 2024 Tax. — standard deduction is a flat deduction salaried individuals can claim against taxable salary income without requiring any proof of actual expense incurred. — for the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single filers and married couples filing separately, $27,700 for married couples.
— finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000. — millions of taxpayers have taken the standard deduction instead of itemizing in the past few years.
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