Accounts Manager
2070 Points
Joined March 2024
Under the New tax regime, we can claim tax exemption for the following:
- Transport allowance in case of a specially-abled person.
- Conveyance allowance, Daily allowance & Travelling allowance received to meet the expenditure incurred as part of the employment.
- Deduction for employer contribution to NPS u/s 80CCD(2),Deduction for additional employee cost u/s 80JJAA,Dedcution amount paid /deposit in the Agniveer corpus fund U/s 80CCH(2)
- Standard Deduction of Rs. 50,000 was available under the New Tax Regime also.
- Interest u/s 24(b) for let-out property set-off HP income only It means HP loss cannot be set off by other income
- Family Pensioners can now claim either Rs. 15,000 or 1/3rd of their pension, whichever is lower
- Remaining Deduction not allowed in new regime