Standard Deduction For 2024 For Seniors. For the 2024 tax year, the standard deduction will increase by $750 for single filers and those married filing separately, $1,500 for married filing jointly, and $1,100 for heads of. The additional standard deduction amount for 2024 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving spouse).

The primary difference lies in the basic exemption ceiling, which denotes the. Higher standard deduction for taxpayers under new tax regime standard deduction for employees opting for new tax regime has increased from ₹50,000 to ₹75,000.