Standard Tax Deduction 2024 For Senior Citizens . The deduction amount for senior citizen is rs.1 lakh and rs. By capping the deduction of state and local taxes at $10,000, trump helped to offset a higher standard deduction and lower overall rates in the 2017 bill.
So for the first 3 lakh, tax would be zero. The income tax slab for senior citizens lets them claim a deduction of up to rs 1,00,000 for senior citizens.
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