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Exemptions and Deductions available under the New Regime
17-06-2024
  • Transport allowances in case of a specially-abled person.
  • Conveyance allowance received to meet the conveyance expenditure incurred as part of the employment.
  • Any compensation received to meet the cost of travel on tour or transfer
  • Daily allowance received to meet the ordinary regular charges or expenditure you incur on account of absence from his regular place of duty.
  • Gifts up to Rs.50,000
  • Exemption on voluntary retirement 10(10C), Gratuity u/s 10(10) and Leave encashment u/s 10(10AA).
  • Interest on Home Loan on Let-Out Property (Section 24)
  • Budget also introduced deduction under sec.57(iia) of family pension income
  • Budget 2023 further introduced deduction of amount paid or deposited in the Agniveer Corpus Fund Under Sec.80CCH(2)
  • Standard Deduction of Rs.50,000 under New Tax Regime applicable From FY 2023-24
  • Deduction for Employer’s Contribution to NPS account [Sec.80CCD(2)]

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