Taxpayers will get bigger standard deductions in 2025, but with smaller boosts than recent years
For single taxpayers and married individuals filing separately, the standard deduction rises to $15,000 — up $400 from 2024.
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Deduction u/s 80P was allowable on interest and dividend income earned from Cooperative Banks
Conclusion: Since cooperative banks were considered cooperative societies for the purpose of Section 80P (2) (d), thereby making assessee’s interest and dividend income eligible for deduction. Such ...