2024 Standard Deductions And Tax Rates. Learn about the options available to taxpayers and make informed decisions to optimize tax efficiency. Standard deduction limit for salaried and pensioners hiked to rs 75,000 from rs 50,000.
Taxable income and filing status determine which federal tax rates apply to you and. To do this, a thorough understanding of the deductions, allowances, and exemptions offered under each regime is essential.