2024 Income Tax Brackets And Deductions For Seniors. The federal income tax has seven tax rates in 2024: In order to calculate the income tax for a senior citizen, all the income is taken into consideration along with the allowable deductions and the income tax slab.

In order to calculate the income tax for a senior citizen, all the income is taken into consideration along with the allowable deductions and the income tax slab. While the old tax regime allows taxpayers to avail of tax exemptions under close to 70 income tax deductions available under various sections of the income tax rules, the.