India Tax Planner 2026

One of the few significant deductions available in the new regime. If your employer contributes to NPS on your behalf (up to 14% of basic for government employees, 10% for private sector, raised to 14% under new regime via Budget 2024), that contribution is fully deductible — even in the new regime. Ask HR if NPS is part of your CTC; if not, request restructuring.

Equity-linked savings schemes are mutual funds with a 3-year lock-in (shortest among 80C options) that qualify for 80C deduction. Most-recommended ELSS funds have delivered 12-16% CAGR over 5-10 year windows. Choose direct plans only (not regular) — saves 1-1.5% expense ratio compounding to 15-25% over 20 years.

Public Provident Fund: 15-year lock-in, 7.1% tax-free interest (revised quarterly by govt), Rs 500 minimum to Rs 1.5L maximum per year. Triple tax benefit (EEE — deposit deductible, interest tax-free, maturity tax-free). Best for the "guaranteed return" portion of a portfolio. Account can be extended in 5-year blocks indefinitely after 15 years.

Sodexo, Zeta, Pluxee, Edenred meal cards are tax-free up to Rs 8,800/month (Rs 1,05,600/year) under the new tax regime — a meaningful upward revision from the older Rs 2,200/month (Rs 50/meal × 22 days × 2 meals) interpretation that still applies under the old regime. One of the rare perks that became MORE generous under the new regime cleanup. Worth asking HR to add or expand if your CTC currently has the older lower cap.

If part of CTC, employers can reimburse mobile + internet + telephone bills tax-free against actual invoices. Typical company allowance: Rs 1,000-3,000/month. People forget to submit bills monthly and forfeit the benefit.

LTA covers actual domestic travel cost (flight, train, bus — not hotel/food) for self and family. Claim twice in a 4-calendar-year block (current block: 2026-29). Carry over one unused claim to the first year of the next block. Foreign travel does not qualify; only economy-class for air travel.

Many CTCs include components for: laptop/phone purchase (depreciation method), fuel reimbursement (Rs 1,800/month exempt for petrol up to 1600cc; Rs 2,400 for higher cc + chauffeur), uniform allowance, child education allowance (Rs 100/month/child × 2). Most are partially exempt; combined value Rs 15-50K depending on CTC level.

Up to Rs 25,000 deduction on health insurance premium for self + spouse + dependent children under 60. Rs 50,000 if any insured person is a senior citizen (60+).

Up to Rs 5,000 of preventive health checkup expenses for self/family/parents qualifies within the 80D ceiling (not in addition to). Cash receipts accepted.

80DD: Rs 75,000 deduction for medical care of disabled dependent (Rs 1,25,000 for severe disability — 80%+). 80DDB: deduction for actual expenses on specified critical illnesses (cancer, AIDS, neurological, chronic renal failure, etc.) up to Rs 40,000 (Rs 1,00,000 if senior citizen).

50% or 100% of donations to specified funds and registered NGOs is deductible. PM CARES, PM National Relief Fund, National Defence Fund get 100% with no qualifying limit. Most charitable NGOs get 50% deduction with a 10%-of-gross-income cap. Donations > Rs 2,000 must be non-cash (UPI / bank transfer / cheque).

For girl child under 10: Rs 250-1.5 lakh/yr deposit, qualifies for 80C, 8.2% tax-free interest (revised quarterly), 21-year maturity or marriage at 18+. Triple tax benefit (EEE). Account in girl's name; parent operates. One of the highest sovereign rates with full tax exemption.

Long-term gains from any capital asset (house, land, gold, stocks pre-2018) — invest up to Rs 50 lakh in specified bonds (NHAI, REC, PFC, IRFC, etc.) within 6 months of sale. 5-year lock-in, ~5.25% taxable interest. Useful when you don't want another house but want to defer tax.

Start a goal-based SIP (5-7 year horizon) for "house down payment". When you sell the matured MFs to fund the house purchase, structure timing so 54F applies — invest within 2 years of MF sale into the house. Result: zero LTCG on the SIP gains, and the down payment is funded.

Already covered above — employer NPS contribution (up to 14% of basic in new regime, 10% in old) is fully deductible. Single biggest new-regime deduction. Confirmed worth requesting from HR.

If your employer provides accommodation, it's a perquisite valued at 7.5%-15% of salary (depending on city population) for tax purposes — usually less than market rent. Common in PSUs, banks, defence, IT campuses. Reduces taxable salary if structured correctly.

For first-time home buyers (no other house in your name): additional Rs 1.5 lakh deduction on home loan interest over and above the Rs 2 lakh under section 24(b). Conditions: stamp duty value of property ≤ Rs 45 lakh, loan sanctioned between 1 Apr 2019 and 31 Mar 2022 (sunset clause — check if extended).

Authors/composers earning royalty up to Rs 3 lakh/yr get full deduction under 80QQB. Patent holders get same treatment under 80RRB. Useful for side-income earners with creative IP.