Under the new tax regime, HRA tax exemption is not available. Section 115BAC, which governs the rules for the new tax regime, bars an individual from claiming HRA exemption. A salaried individual ...

Leave Travel Allowance (LTA) lets salaried employees claim tax exemptions on travel expenses during their leave incurred for ...

Sanjoli Maheshwari, Executive Director of Nangia Andersen India, says, "As per the provisions of Section 10(13A) of the Income-tax Act, 1961, tax exemption on HRA is allowed only for rent payment ...

Discover five crucial income tax provisions every Indian taxpayer should know in FY 2025-26, including deductions under ...

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits ...

For instance, HRA in Mumbai can go up to 60% of basic. The key benefit of HRA is that it is tax-exempt under section 10(13A) of the Income Tax Act, 1961. However, only the amount spent on rent or ...

Under the old tax regime, HRA is exempted under section 10(13A) of Income Tax Act for salaried individuals, states information on the Income Tax India website. However, this exemption is not ...

Home loan benefits are important, but they aren’t the only ones to think about. Other deductions under the old regime, like ...

According to Budget 2025, under the new tax system, you don’t have to pay tax on income up to ₹12.5 lakh. This is a big jump ...

Under the new tax regime, taxpayers need to pay 0 tax if their income is up to Rs 12 lakh per annum. The government has also provided marginal relief if your income is less than Rs 12.75 lakh. However ...

Deduction on Home Loan Interest – Section 24 (b ... Many taxpayers will be able to claim a partial exemption through HRA if they are living in rented accommodations. Employees will have to ...

makes available several deductions and exemptions that can be availed. For example, the House Rent Allowance, the deduction for home loan, investments made in tax-saving instruments under Section ...