Exemptions and deductions not claimable under the new tax regime

The following are some of the major deductions and exemptions you cannot claim under the new tax regime:

  1. The deduction under Section 80TTA/80TTB 
  2. Professional tax and entertainment allowance on salaries
  3. Leave Travel Allowance (LTA)
  4. House Rent Allowance (HRA)
  5. Allowances to MPs/MLAs 
  6. Minor child income allowance
  7. Helper allowance
  8. Children education allowance
  9. Other special allowances [Section 10(14)]
  10. Additional depreciation under section 32(1)(iia)
  11. Deductions under section 32AD, 33AB, 33ABA
  12. Various deductions for donation for or expenditure on scientific research contained in section 35(2AA) or 35(1)(ii) or (iia) or (iii)
  13. Deduction under section 35AD or section 35CCC
  14. Interest on housing loan on the self-occupied property or vacant property (Section 24)
  15. Chapter VI-A deduction (Section 80C, 80D, 80E and so on, except Section 80CCD(2) and Section 80JJAA)
  16. Exemption or deduction for any other perquisites or allowances including food allowance of Rs 50/meal subject to 2 meals a day
  17. Employee’s (own) contribution to NPS
  18. Donation to Political party/trust, etc
  19. Budget 2023 update- Deduction from family pension income up to FY 2022-23 (From FY 2023-24, it is allowed as deduction)
  20. Budget 2023 update- Standard deduction of Rs.50,000 up to FY 2022-23 (From FY 2023-24, it is allowed as deduction)