2024 Standard Tax Deduction Married Jointly In India

2024 Standard Tax Deduction Married Jointly In India. The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. The top tax rate will remain at 37% for married couples filing jointly, however the income bracket has increased from $693,750 in 2023 to $731,200 in 2024.

However, there are certain deductions and exemptions available. For the tax year 2024, the standard deduction for married couples filing jointly will increase to $29,200, an increase of $1,500 over the tax year 2023.