Standard Deduction For 2024 Tax Year Over 65. You are considered age 65 on the day before your 65th birthday. Also, standard deduction limit for family pensioners have been hiked to rs 25,000 from rs 15,000.
$3,700 if you are single or filing as head of household. Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024.