Browsing: Deductions & Exemptions
Learn about income tax deductions and exemptions, including eligible investments, expenses, allowances, and tax-saving benefits under the applicable tax regimes.
No, Section 80G deduction cannot be claimed under the new tax regime for FY 2025-26 (AY 2026-27). The Income Tax…
Leave encashment received at retirement qualifies for income-tax exemption even under the new tax regime, subject to the conditions of…
Yes, surcharge applies under the new tax regime. It is an additional charge calculated on your income-tax liability once total…
A home loan in the new tax regime does not offer the same tax benefits as the old regime. For a self-occupied…
Marginal relief in new tax regime protects eligible resident individuals from a disproportionate increase in tax when their taxable income…
No, LTA exemption is not available under the new tax regime for FY 2026-27. Last updated: October 2026. If you…
For FY 2026-27 (AY 2027-28), a meal card is not tax-exempt under the new tax regime. The paid-voucher exemption that…
Section 80TTA is not available under the New Tax Regime for FY 2025-26 (AY 2026-27). Section 80TTB is also not…
No, HRA exemption is generally not available under the new tax regime for FY 2025-26 (AY 2026-27). Last updated: October 2026.…
Yes, the standard deduction in new tax regime is available for eligible salaried taxpayers and pensioners for FY 2025-26 (AY 2026-27). Under the…