Archive · 17 Jun 2025
Old Tax Regime: Updated Rules for Salaried Taxpayers
When filing your taxes under the old system, things have changed.
You'll now need to provide documents to prove your deductions, like rent receipts if you claim HRA.
You'll also need to provide proof if you have education loans.
Plus, if you made money from selling certain stocks, you can report gains up to a certain amount on a specific tax form.
New rules for salaried individuals choosing the old tax regime for ITR.
Taxpayers must now provide proof for deductions like Section 80C, 80D, and HRA.
Rent receipts are required for HRA claims.
Supporting lender information is needed for Section 80E (education loan) and other interest-based deductions.
ITR-1 form allows reporting of long term capital gain (LTCG) up to Rs 1.25 lakh from selling equity mutual funds or shares.
- Who
- Salaried individuals choosing the old tax regime.
- What
- Changes in income tax rules for those filing under the old tax regime.
- When
- For Assessment Year 2025-26.
- Where
- N/A
- Why
- To enhance transparency and limit false claims.
Old Tax Regime
New Tax Regime
Documentation
Old Tax Regime
Requires providing proof for deductions.
New Tax Regime
N/A
- Focus
- Old tax regime
- Documentation required
- Proof for deductions (80C, 80D, HRA, etc.)
- HRA Claims
- Need rent receipts
- Section 80E
- Requires lender-level information for education loan interest deductions.
- LTCG
- Can report gains up to Rs 1.25 lakh via ITR-1 form.
