Home » Financial & Accounting » IT Return: What are the exemptions and deductions not claimable under the new tax regime section u/s 115BAC?

The following are the deductions and exemptions you cannot claim under the new tax system:

  1. The standard deduction, professional tax and entertainment allowance on salaries
  2. Leave Travel Allowance (LTA)
  3. House Rent Allowance (HRA)
  4. Minor child income allowance
  5. Helper allowance
  6. Children education allowance
  7. Other special allowances [Section 10(14)]
  8. Interest on housing loan on the self-occupied property or vacant property (Section 24)
  9. Chapter VI-A deduction (80C,80D, 80E and so on) (Except Section 80CCD(2) and 80JJAA)
  10. Without exemption or deduction for any other perquisites or allowances
  11. Deduction from family pension income

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