2024 Standard Tax Deduction For Seniors. The additional standard deduction amount for 2024 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving spouse). Section 194p is applicable from 1st april 2021.
Section 194p is applicable from 1st april 2021. Here are the latest income tax slabs that will be effective for the current financial year after budget 2024.