What Is The Standard Deduction For 2024. If an employee does not opt for the old tax regime initially, their employer will deduct tax (tds) according to the default new tax regime. For the 2023 tax year, which is filed in early 2024, the federal standard deduction for single filers and married folks filing separately was $14,600.

Kpmg deloitte tata consultancy ey accenture The budget 2024 brought about several changes to the capital gains structure, tax deducted at source (tds), and other related aspects.