Standard Tax Deduction 2024 Married Jointly Under New Regime

Standard Tax Deduction 2024 Married Jointly Under New Regime. Attractive tax rates compared to the old tax regime. For the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).

The budget has widened two income tax slabs and increased the standard deduction from rs.50,000 to rs.75,000 under the new regime. Finance minister nirmala sitharaman in her budget speech announced that the standard deduction under the new tax regime will.