Income Tax Standard Deduction 2024. 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. The finance minister nirmala sitharaman is set to present the union budget 2024 on july 23.
(effective from 23 rd july 2024) tax on distributed income of domestic company for buy. This allows taxpayers to have a higher disposable income.