2024 Tax Rates And Deductions For Seniors. Rates and thresholds for seniors and pensioners tax offset. 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.

Finance minister nirmala sitharaman revises tax slabs, increases standard deductions, and introduces threshold for reporting movable assets. The additional standard deduction amount for 2024 (returns usually filed in early 2025) is $1,550 ($1,950 if unmarried and not a surviving.