India Tax Deductions Checklist (AY 2026-27)
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
Section 80D - Health Insurance
Section 80CCD - NPS
Other Deductions
House Property Deductions
Salary Exemptions
Maximum Possible Deductions
Practical example
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.
Sources & references
Related calculators
How to turn the checklist into a filing-ready worksheet
After marking possible deductions, create a simple worksheet with four columns: section or category, amount paid, proof available, and whether the claim is allowed in the chosen regime. This prevents a common planning mistake where a taxpayer adds every familiar deduction and only later discovers that some items are not usable for that return. Keep employer-declared figures separate from final return figures because payroll estimates may not include every year-end change.
For each claim, store the receipt, certificate, payment reference, policy document, or loan statement in one folder. If a deduction has a cap, record both the actual payment and the amount finally claimed. This makes review easier for payroll, a tax preparer, or a future notice response.