Question
Mr. Raj, a salaried individual, claims HRA, standard
deduction, and 80C deductions under the old regime. He is considering switching to the new tax regime under Section 115BAC. Which of the following will he have to forego under the new regime?Solution
Under the new regime (Section 115BAC), most exemptions and deductions including HRA and 80C are not allowed (except 80CCD(2) and some employer contributions).
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