INCOME TAX SAVINGS PLAN FOR NEW REGIME FY 2025-26 (MAN/WOMAN)

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This discussion provides guidance on income tax savings investments under the new tax regime for the financial year 2025-26. It highlights that retirement benefits like gratuity and leave encashment, along with employer contributions to NPS and PF, remain tax-exempt. Additionally, income from the Agnipath Scheme under Section 80CCH is also tax-free, offering financial relief to beneficiaries.

Mohanraj J

Mohanraj J (Querist)

30 April 2025 Dear IT Experts
I need your guidance for IT Savings Investment Plan Under New Regime for the FY 2025-26 for Man/Woman.
Eg: NPS, Makhila FD etc

Thanks in advance.
mohanraj_vkj@yahoo.co.in

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

30 April 2025 Retirement Benefits: Gratuity & Leave Encashment : Retirement benefits such as gratuity and leave encashment received at the time of retirement remain non-taxable under the new tax regime. This ensures financial security for retirees and prevents additional tax burdens on their accumulated savings.

Employer Contributions to NPS & PF : Contributions made by an employer towards the National Pension System (NPS) and Employees’ Provident Fund (PF) continue to exempt from taxation. This exemption encourages long-term savings and provides financial stability for employees post-retirement.

Income from Agnipath Scheme (Section 80CCH) : The Agnipath Scheme, introduced to recruit individuals into the Indian Armed Forces, continues to enjoy tax benefits under Section 80CCH. The financial assistance or earnings under this scheme remain tax-exempt, ensuring additional relief for beneficiaries.
All other plans are mostly taxable unless exempt u/s. 10 IT act.

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Mohanraj J

Mohanraj J (Querist)

03 May 2025 Dear Sir, thanks a lot

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Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

03 May 2025 You are welcome.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)