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2024 Income Tax Standard Deduction Over 65
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2024 Income Tax Standard Deduction Over 65. Tax return for seniors, was introduced in 2019. Section 194p of the income tax act, 1961 provides conditions for exempting senior citizens from filing income tax returns aged 75 years and above.
The income tax changes 2024 significantly impact the taxation landscape, offering taxpayers a choice between the new tax regime and the old regime. For 2023, theyโll get the regular standard deduction of $27,700 for a married couple filing jointly.
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