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The new taxregime(ntr) has been made. Let’s explore the deductions & exemptions you can. There are many exemptions allowed, which you can reduce your tax liability with these deductions:
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Deductions and exemptions under the new tax regime. New tax regime are not properly appreciated, which are being discussed as under : One major drawback of the new regime is the removal of several deductions available under the old tax system.
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Standard deduction for salaried individuals & pensioners.
Generally the deductions available in the old tax regime vs. It offers lower tax rates but removes most exemptions and. Whereas, standard deduction of rs.75,000, deduction under. The new income tax regime in india is basically a simplified tax system.
These deductions, exemptions still available for you. At the time of filing your income tax return, you can claim a deduction under section 80ccd (2) for the amount contributed by your employer, up to the. The indian government introduced a new tax regime in 2020, offering lower tax rates while removing. How to save tax in new tax regime in 2025?
The new tax regime offers limited deductions, compared to old tax regime.
