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      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?
      A Standard deduction only Correct Answer Incorrect Answer
      B HRA and 80C deductions Correct Answer Incorrect Answer
      C Only 80C deduction Correct Answer Incorrect Answer
      D None of the above Correct Answer Incorrect Answer

      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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