WebApr 16, 2024 · As per Sec 80CCE, aggregate deduction u/s 80C, 80CCC and 80CCD (1) is restricted to maximum of Rs. 1,50,000. Therefore, in current regime Rs. 90,000 is allowed u/s 80C and employee’s contribution of Rs. 60,000 to NPS is allowed u/s 80CCD (1). The amount of Rs. 50,000 is allowable u/s 80CCD (1B). WebFeb 15, 2024 · Yes, exemption on leave encashment is available under the new tax regime. In Budget 2024, the exemption threshold for leave encashment was increased 8-fold from from ₹3 lakhs to ₹25 lakhs for non-government employees. Thus, at the time of retirement, leave encashment of up to ₹25 lakhs is tax-free under Section 10 (10AA).
Salaried Individuals for AY 2024-23 Income Tax Department
WebHere is the list of exemptions and deductions that taxpayers cannot claim under the new tax regime: Standard deduction of ₹ 50,000 (applicable for salaried taxpayers) House … WebFeb 9, 2024 · Following is a list of key tax deductions that can be claimed under the current tax regime but cannot be claimed under the new income tax regime: Deductions under … how to remove computer history windows 10
Exemptions still available in New Tax Regime (with English
WebDec 16, 2024 · The premium paid towards medical insurance can be claimed as Health Insurance Tax Deduction under section 80D of the Income Tax Act, 1961. However, a new income tax regime has been proposed in Budget 2024. As per these new amendments, the applicability of Section 80D tax benefit is dependent on whether you opt for the old (or) … WebApr 11, 2024 · Salaried individual taxpayers with total income of upto Rs. 7,50,000 may opt for the new tax regime u/s 115BAC of the IT Act and claim the benefit of standard deduction u/s 16(ia) of IT Act up to ... WebHowever, interest paid on housing loan taken for a rented-out property can be claimed as deduction under section 24(b) in the new tax regime as well," he added. The new … how to remove computer from organization