The standard deduction in Income Tax is a flat amount deducted from taxable salary income, allowing taxpayers to reduce their taxable income without submitting any proof. Under the old tax regime, it has been ₹50,000 since 2018, up from ₹40,000. Initially absent in the new tax regime, a ₹50,000 deduction was introduced in 2023 and increased to ₹75,000 in 2024.