Standard Deduction 2024 Instructions. Standard deduction for salaried class increased from 50,000 to 75,000 in a bid to give a boost to salaried taxpayers, finance minister nirmala. 551 provides the latest information and guidance from the irs.

Nirmala sitharaman on tuesday announced that the standard deduction limit under the new tax regime has been revised to rs 75,000 from. Rate married filing jointly single individual head of household married filing separately;