Union Budget 2026: What’s Up with Standard Deductions?

The Union Budget 2026 keeps the standard deduction limits steady! For FY27, salaried folks can claim Rs 75,000 under the new tax rules and Rs 50,000 under the old ones. This deduction is a lifesaver for low-income earners but only applies to salary and pension income. So, don’t mix it up with freelance or rental earnings, or you might end up in a tax pickle!