Standard Deduction For 2024 Tax Year. Also, standard deduction limit for family pensioners have been hiked to rs 25,000 from rs 15,000. The standard deduction for 2023 is:

Also, standard deduction limit for family pensioners have been hiked to rs 25,000 from rs 15,000. For the tax year 2024, people who qualify as heads of household are eligible for a standard deduction of $21,900.