What Is Standard Tax Deduction For 2024 . โ 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. Here are the standard deduction amounts set by the irs:
The budget 2024 announced a rs.25,000 hike in the standard deduction under the new regime. Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000.
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