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Income Tax return filing for FY 2024-25 has started. We all know that the new regime is the default regime for FY 2024-25. If any assessee wants to file the ITR in the old regime then he can file the same with the old regime. In the old regime, assessee can claim deductions under the House Rent All
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The new tax regime is the default regime for FY 2024-25. However, taxpayers can still choose to file their ITR under the old regime if they prefer.
To claim HRA deductions, you will need to provide details such as your place of work, basic salary, actual HRA received, and rent paid.
For home loan interest deductions, you'll need to specify if the loan was taken from a bank or another entity, the name of the institution, loan account number, sanction date, total loan amount, and the outstanding balance as of March 31st.
When claiming deductions under Section 80C, you need to provide the amount eligible for deduction and the policy number or document identification number.
A PRAN number is required for claiming deductions under Sections 80CCC, 80CCD(1), 80CCD(1B), and 80CCD(2).
For deductions under Sections 80DD and 80U, you'll need to provide the nature and type of disability, details of the dependent, their PAN & Aadhaar, Form 10-IA details, and the UDID number if available.
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