Following deductions are available to a taxpayer opting for the New Tax Regime u/s 115BAC:
1. Section 24(b) – Deduction from Income Rental Income for “Interest Paid on Housing Loan”:
| Nature of Property | Purpose of loan | Deduction Limit |
| Let Out (Rented) | Construction or purchase of house property | Actual Interest Paid without Limit |
2. Section 80CCD(2) – Deduction towards contribution made by an employer to the Pension Scheme of Central Government:
| Who is Eligible | Deduction Limit |
| For all categories of employees (Govt and Non-Govt.) | 14% of salary |
3. Section 80CCH – Deduction in respect of contribution to Agnipath Scheme:
| Where an assessee, being an individual enrolled in the Agnipath Scheme and subscribing to the Agniveer Corpus Fund on or after the 1st day of November, 2022, has in the previous year paid or deposited any amount in his account in the said fund | Allowed a deduction in the computation of total income, of the whole of the amount so paid or deposited |
| Where the Central Government makes any contribution to the account of an assessee in the Agniveer Corpus Fund | Allowed a deduction in the computation of total income of the whole of the amount so contributed |
