Standard Deduction For Seniors 2024 Tax Year. Also, standard deduction limit for. Currently, individuals aged 60 years or above are subjected to the same tax slabs as younger taxpayers.

In today’s budget 2024, the finance minister nirmala sitharaman has made changes in the income tax slabs and rates for the current financial. Senior citizens can benefit from the standard deduction of rs 50,000, which was introduced in the budget 2020.