Tax
Standard deduction
A flat amount automatically subtracted from a salaried person's income before tax, no proof needed.
The standard deduction is a fixed sum knocked off your salary before tax is calculated, with zero paperwork.
It is available to salaried people and pensioners in both the old and new regimes.
It is one of the few benefits you get automatically, so it is always factored in for you.
For example
A ₹50,000 standard deduction means a ₹10L salary is taxed as ₹9.5L, saving you tax without submitting a single receipt.