2024 Income Tax Brackets And Deductions For Senior Citizens. 1.5 lakh for investments like nsc, senior citizen savings scheme, etc. In 2024, the income limits for every tax bracket and all filers will be adjusted for inflation and will be as follows (table 1).
For the 2023 tax year (for forms you file in 2024), the standard deduction is $13,850 for single. 22% for incomes over $47,150.