Use this checklist as a practical starting point for AY 2026-27 (FY 2025-26). Most of these items matter mainly in old regime planning, so confirm the chosen regime before relying on any deduction.
What this guide covers
Core deduction buckets commonly reviewed by salaried and individual taxpayers
How 80C, 80D, NPS, home-loan interest, and donation claims fit together
What records to collect before payroll proof submission or ITR filing
Why regime choice should be checked before a deduction estimate is used
Section 80C - ₹1,50,000 Limit
Investment/Expense Eligible Amount
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☐ EPF (Employee Contribution) Actual
☐ PPF (Public Provident Fund) Up to ₹1.5L/year
☐ ELSS Mutual Funds Actual
☐ Life Insurance Premium Actual
☐ NSC (National Savings Certificate) Actual
☐ 5-Year Tax Saver FD Actual
☐ Sukanya Samriddhi Yojana Actual
☐ ULIP Premium Actual
☐ Home Loan Principal Actual
☐ Tuition Fees (2 children) Actual
☐ Stamp Duty & Registration One-time
Total 80C Limit: ₹1,50,000
Section 80D - Health Insurance
Category Limit
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☐ Self & Family (below 60) ₹25,000
☐ Self & Family (60+) ₹50,000
☐ Parents (below 60) ₹25,000
☐ Parents (60+ Senior) ₹50,000
☐ Preventive Health Checkup ₹5,000*
* Included within above limits
Maximum Total: ₹1,00,000
Section 80CCD - NPS
☐ 80CCD(1): Self NPS contribution Within 80C limit
☐ 80CCD(1B): Additional NPS ₹50,000 extra
☐ 80CCD(2): Employer NPS 10-14% of salary*
* Available in BOTH old and new regime
Other Deductions
Section Description Limit
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☐ 80E Education Loan Interest No limit (8 years)
☐ 80G Donations to approved funds 50-100% of donation
☐ 80GG Rent (if no HRA) ₹5,000/month
☐ 80TTA Savings A/c Interest ₹10,000
☐ 80TTB Interest for Seniors ₹50,000
☐ 80U Disability ₹75K-₹1.25L
☐ 80DD Dependent Disability ₹75K-₹1.25L
☐ 80DDB Medical Treatment ₹40K-₹1L
House Property Deductions
☐ Section 24(b) - Home Loan Interest
• Self-occupied: ₹2,00,000/year
• Let-out: No limit
☐ Standard Deduction on Rental Income: 30% of NAV
Salary Exemptions
☐ HRA Exemption As per formula
☐ LTA (Leave Travel Allowance) Actual travel expenses
☐ Standard Deduction ₹50,000 (old) / ₹75,000 (new)
☐ Professional Tax Actual (usually ₹2,500)
☐ Gratuity Exemption Up to ₹20 lakh
☐ Leave Encashment Up to ₹25 lakh
A salaried taxpayer comparing regimes may start with EPF, PPF, ELSS, and life insurance under Section 80C, then add family or parent mediclaim under Section 80D, and finally review home-loan interest, HRA, or NPS contribution. The comparison changes once the taxpayer checks which of those benefits are actually usable under the chosen regime.
Common mistakes
Counting the same payment twice across different deduction sections
Assuming a deduction is available in the new regime without checking the law
Forgetting proof requirements such as premium receipts, loan certificates, or donation receipts
Ignoring section-specific caps and age-based limits
Relying on payroll projections instead of the final eligible amount at filing time
Frequently Asked Questions
No. Many familiar deductions are primarily relevant to the old regime. You should always check regime-specific availability before depending on a deduction in planning.
No. Section 80C works as an overall cap across the eligible items that fall within that basket.
Yes. Your final return position should still be backed by receipts, certificates, or other records if the claim is later reviewed.
No. Calculators are useful for planning, but the final claim depends on the exact section, current AY rules, and document support.
⚠️Disclaimer: This checklist is for education and planning only. Regime-specific deduction rules can change by FY or AY, so verify the current law before filing.