A snapshot of the exemptions / deductions applicable for FY: 2024-25 (AY: 2025-26) under the Old & New Tax Regimes are summarized as under:
| Particulars | Old Tax Regime | New Tax Regime |
| Income level (for Rebate u/s 87A) | ₹ 5 lakhs | ₹ 7 lakhs |
| Rebate u/s 87A | ₹ 12,500 | ₹ 25,000 |
| Standard Deduction | ₹ 50,000 | ₹ 75,000 |
| HRA Exemption | ✓ | x |
| Leave Travel Allowance (LTA) | ✓ | x |
| Other allowances (including food allowance) | ✓ | x |
| Entertainment Allowance and Professional Tax | ✓ | x |
| Perquisites for official purposes | ✓ | ✓ |
| Interest on Home Loan u/s 24b (Self-occupied property) | ✓ | x |
| Interest on Home Loan u/s 24b (Let-out property) | ✓ | ✓ |
| Deductions – 80C | ✓ | x |
| Employee’s contribution to NPS | ✓ | x |
| Employer’s contribution to NPS | ✓ | ✓ |
| Medical Insurance – 80D | ✓ | x |
| Disabled Individual – 80U | ✓ | x |
| Donation to Political Party / Trust – 80G | ✓ | x |
| Interest on Education loan – 80E | ✓ | x |
| Interest on Electric Vehicle loan – 80EEB | ✓ | x |
| Savings Bank Interest – 80TTA / 80TTB | ✓ | x |
| Deduction on Family Pension Income | ✓ | ✓ |
| Other Chapter VI-A deductions | ✓ | x |
| Contribution to Agniveer Corpus Fund – 80CCH | ✓ | ✓ |
| Transport Allowance for a specially-abled person | ✓ | ✓ |
| Gifts upto Rs 50,000 | ✓ | ✓ |
| Daily Allowance (if consumed) | ✓ | ✓ |
| Exemption on voluntary Retirement 10(10C) | ✓ | ✓ |
| Exemption on Gratuity u/s 10(10) | ✓ | ✓ |
| Exemption on Leave encashment u/s 10(10AA) | ✓ | ✓ |
| Conveyance Allowance | ✓ | ✓ |
Try the Old vs New Regime Tax Calculator, click below:
Use TDSMAN Software to file seamless & error-free TDS / TCS returns, without any professional help.
the comparision chart for old and new tax regime GIVEN IN THIS POST NEEDS TO BE CORRECTED. 1) 80 TTB IS ONLY FOR SENIOR CITIZEN AND IS ONLY UNDER OLD TAX REGIME FOR INTEREST FROM FDS /RDS, SAVINGS ACT, ETC WITH MAXIMUM RS 50000/- DEDUCTION IS PERMITTED. 2) 80TTA – IS ONLY FOR NON-SENIOR CITIZEN UNDER OLD TAX REGIME AND IS ONLY FOR INTEREST FROM SAVINGS ACT WOTH UPTO MAX DEDUCTION OF RS 1000/- HENCE PLEASE AMEND THIS COMPARISION CHART. THANKS. MOHAN. K
Thank you for the feedback. We have noted your observations. In this blog, we have simply provided a comparison of the deductions that would apply to either to the old regime or new regime or on both. In this case deductions u/s 80TTA & 80TTB applies only to the ‘old regime’ which is line with your observation. Like for all other sections listed, specific details have not been provided for any in this particular article.
Requesting you to provide the same FY 2025-26 with comparison OLD and NEW Tax regime
We usually publish the detailed comparison for the upcoming financial year (like FY 2025-26) in the 4th Quarter. However, if you wish to check the impact right now, you can use our New vs Old Regime Comparison Tool — just enter your values and instantly see which regime works better for you.
This is a handy reference as to the difference between New and Old tax regime
If 10 lakhs income which plan is good old or new
It is being assumed that the assessee is an individual and has a total income of Rs. 10 lakhs (which also includes salary). If there are no exemptions / deductions applicable while computing the taxable income, the new regime is always more beneficial. However, if these are applicable, then the taxable income needs to be computed under both regimes to decide which is beneficial.
Refer to our blog New Regime vs Old Regime – which is better?, which may be useful.