Tax Year 2024 Standard Deduction For Seniors. Taxpayers who are 65 and older, or are blind, are eligible for an additional. The standard deduction will increase by $750 for single filers and by $1,500 for joint filers (table 2).

The standard deduction for seniors is rs.50,000, as per the most current revisions to the income tax act. Senior citizens aged 60 to 80 years can claim higher exemption limits and deductions under various sections of the income tax act.