Deductions and regimes

Key provisions to compare

Section 80C

Section 80C allows deductions up to a statutory ceiling for eligible instruments such as EPF contributions, PPF, ELSS, and life insurance premiums, subject to the conditions in the Act.

House Rent Allowance

HRA exemption is generally the least of actual HRA received, rent paid minus 10% of basic salary, and a percentage of basic salary depending on city of residence.

Old vs New regime

The Old regime keeps most deductions with different slab rates, while the New regime has lower slab rates with fewer deductions. Compare both before filing and check current rules.

Keeping current

Rules change with each budget

Income tax slabs, deduction limits, and exemption rules are set by the Finance Act and can change from one assessment year to the next. Always confirm the figures for the year you are filing against the latest official notifications.

Your outcome depends on your income sources, residence status, and other circumstances. These pages explain the general structure only; for a decision about your own return, speak with a qualified chartered accountant.