New Regime Tax Deductions and Exemptions FY 2023-2024

Standard Deduction INR 50,000/-

Perquisites for official purposes

Interest on Home Loan u/s 24b on let-out property

Employer’s contribution to NPS

Gifts up toΒ  INR 50,000

Exemption on voluntary retirement Sec 10(10C)

Exemption on Leave Encashment Β Sec 10(10AA)

Exemption on gratuity Sec 10(10)

Transport Allowance for a specially abled person

Conveyance Allowance