2024 Standard Deduction For Seniors. For more information on how the. Federal tax brackets range from 10%.
Fm nirmala sitharaman has made two announcements for those opting for the new tax regime. The standard deduction for those over age 65 in tax year 2023 (filing in 2024) is $15,700 for singles, $29,200 for married filing jointly if only one partner is over 65 (or.