banner_ad

Standar deduction

188 views 2 replies
If i choose new regim tax slab,
than will i have to exemption of standard deduction??
Replies (2)
If you choose new regime you are exempted from Standard deduction of existing regime.
If you choose to file return under new tax regime, then you will not get standard deduction of Rs. 50,000/- from salary income

Some other deduction which u can't claim under new tax regime :
Standard deduction: Rs 50,000
House rent allowance: Depends on salary structure and rent paid
Housing loan interest: Rs 3.5 lakh for affordable housing, Rs 2 lakh for others
Investments under Sec 80C: Rs 1.5 lakh
Leave travel allowance: Tax free if claimed once in block of two years
NPS contribution: Rs 50,000
Medical insurance premium: Rs 25,000 (Rs 50,000 for parents and senior citizens)
Savings bank interest: Rs 10,000 under Sec 80TTA
Interest income (for senior citizens): Rs 50,000 under Sec 80TTB
Education loan interest: Interest paid for eight consecutive years
Disability of self or dependant: Rs 75,000 to Rs 1.25 lakh depending on disability
Treatment of self or dependant for specified disease: Rs 40,000 (Rs 1 lakh for senior citizens)
Donations to specified entities: 50-100% of the amount donated


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details