2024 Tax Tables And Standard Deductions Allowed

2024 Tax Tables And Standard Deductions Allowed. Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024. The revised rates are as follows:

The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. 10%, 12%, 22%, 24%, 32%, 35%, and 37%.