2024 Standard Deduction Married Filing Jointly Under 80c . Income tax deduction and limits under section 80c, 80ccd in 2024. Under section 80c of the income tax, an individual can avail for deductions up to rs 1,50,000 per annum on the total annual income.
If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150. For comparison, the standard deduction amounts for single taxpayers and married taxpayers filing separately was $14,600 in 2024.
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