2024 Standard Deduction Amount. Nirmala sitharaman's budget 2024 raises standard deduction to rs 75,000 for salaried individuals and pensioners, and rs 25,000 for family pensioners. Seniors over age 65 may claim an additional standard deduction.

The bill requires approval from both houses. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;