2024 Standard Deduction. For single filers and married individuals filing separately, it’s $13,850.  — project 2025 proposes to “simplify” the tax code by collapsing the complex system into two tax brackets — 15 percent and 30 percent — while eliminating most.

Finance minister nirmala sitharaman has announced an increase in the standard deduction for salaried employees by ₹ 25,000 in. These amounts are provided in the chart below.