2024 Standard Tax Deduction Chart 2024. In tipped positions, workers must receive a subminimum wage, also known as a cash wage, of $2.13 per hour. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023;

The budget introduces personal income tax relief for four crore salaried and pensioners under the new tax regime, with the standard deduction increased to ₹75,000 from ₹50,000. Finance minister has announced a hike in the standard deduction amount in new tax regime hiked to rs 75000 in budget 2024.