What Deductions Are Available Under The Revised New Tax Regime FY 2025-2026?

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Non-Claimable Tax Deductions & Exemptions in New Tax Regime

Standard Deductions u/ Section 80TTA and Section 80TTB Deductions u/ Section 80C, 80D, 80E, 80CCC, 80CCD, 80DD, 80DDB, 80EE, 80EEA, 80G, etc. of Chapter VI-A of IT Act Professional Tax Entertainment Allowance on Salaries House Rent Allowance (HRA) Leave Travel Allowance (LTA) Helper Allowance Child Education Allowance Minor Child Income Allowance Interest on Housing Loan Self-Occupied/ Vacant Property Other Special Allowance u/ Section 10(14) Employee’s Contributions to NPS Account Donations to Political Parties/ Trusts

New Tax Regime Exemption List

Transport Allowances w.r.t. Person with Disabilities (PwD) Conveyance Allowance Travel/ Tour/ Transfer Compensation Perquisites for Official Purposes Exemptions for Voluntary Retirement Scheme u/ Section 10(10C) Gratuity Amount u/ Section 10(10) Leave Encashment u/ Section 10(10AA) Interest on Home Loan on Lent-out Property u/ Section 24 Gifts of Up to Rs. 5,000 Employer’s Contributions to Employees NPS Accounts u/ Section 80CCD(2) Additional Employee Costs u/ Section 80JJA Standard Deductions on Family Pension u/ Section 57(IIA) Deductions on Deposits in Agniveer Corpus Fund u/ Section 80CCH(2)

Comparison of Deductions under Old Regime vs. New Regime for FY 2024-25

The table below shows a comparative analysis of the available deductions under the old vs. new tax regime:

Available Exemptions/ Deductions	Old Tax Regime	New Tax Regime
Standard Deductions u/ Section 80TTB Deduction	YES Deductions of Rs. 50,000	YES Deductions of Rs. 75,000 as per Union Budget in July 2024 .
Employment/ Professional Tax u/ Sec 10(5)	YES	NO
House Rent Allowance (HRA) u/ Sec 10(13A)	YES	NO
Exemptions for Free Food & Beverages through Vouchers/ Food Coupons	YES	NO
Deductions of Up to Rs. 1.5 lakhs u/ Chapter VIA towards investments like u/ Sec 80C, 80CCC, 80CCD, 80DD, 80DDB, 80E, 80EE, 80EEA, 80G, etc.	YES	NO
Deductions u/ Sec 80CCD(2) for Employer’s Contribution to Employee NPS Accounts	YES	YES
Deductions u/Sec 80CCD(1B) of Up to Rs. 50,000	YES	NO
Medical Insurance Premium u/Sec 80D	YES	NO
Interest on Home Loan for Self-Occupied/ Vacant Property	YES	NO