2024 Income Tax Brackets And Deductions For Seniors

2024 Income Tax Brackets And Deductions For Seniors. The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, it’s possible you could fall into a lower bracket. Standard deduction for salaried employees increased to rs 75,000.

Income above rs 15 lakh taxed at 30%. 9, 2023, the irs announced the annual inflation adjustments for the 2024 tax year.