Standard Deduction For Ay 2025-26 2025 Over 65. This is for pensions in the form of annuity payments which are taxable just like the salaried income. Standard deduction to salaried individuals and pensioners is proposed to be increased from ` 50,000 to ` 75,000 under the new tax regime.
Seniors over age 65 may claim an additional standard deduction of $2,000 for single filers and $1,600 for joint filers. Standard deduction under section 16 of the income tax act, increase from rs.