New Tax Regime - Exemptions and Deductions

Last updated: 10 February 2025
Quick Summary
This guide explains the New Tax Regime in India, offering lower tax rates but fewer deductions. It details available exemptions and deductions, including the standard deduction for salaried individuals, tax-free retirement benefits, and employer contributions to NPS/PF. It also covers specific allowances and notes that the new regime is now the default option. This information is useful for salaried employees and pensioners looking to understand their tax obligations under the revised system.

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Submitted by · Posted 10 February 2025 · Other files by CS Lalit Rajput · Report
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