Deduction allowed between New and Old Tax Regimes for the Assessment Year 2024-25 as per the Budget 2023 with Auto Calculate Income Tax Preparation Software in Excel for Government and Non-Government Employees for the A.Y.2024-25

admin May 9, 2023

Deduction/Exemption Uner Section	Old Tax Regime	New Tax Regime
Standard Deduction [Section 16(ia)]	Available	Available
Leave ’travel concession section 10(5)	Available	Not Available
House Rent Allowance [Section 10(l3A)]	Available	Not Available
Official and personal allowances (other than those as may be prescribed) [Section 10(14)]	Available	Not Available
Allowances to MPs/MLAs [Section 10(17)]	Available	Not Available
Entertainment Allowance [Section 16((ii)]	Available	Not Available
Professional ’l’ax lsection l6(iii)J	Available	Not Available
Interest on housing loan for self-occupied house property [Section 24(b)]	Available	Not Available
Deduction under Sections 8 C to 80U other than specified under Section 80CCD(2), and Section 80CCH(2) [Chapter VI-A]	Available	Not Available
Set-off of any loss under the head “Income from house property” with any other head of income	Available	Not Available
Exemptions or deductions for allowances or perquisites provided under any other law for the time being in force	Available	Not Available

Table of Contents

Download Automated Income Tax Preparation Excel-Based Software All in One for the Government & Non-Government (Private) Employees for the F.Y.2023-24 and A.Y.2024-25

Deduction allowed between New and Old Tax Regimes

Features of this Excel Utility:-

1) This Excel utility prepares and calculates your income tax as per the New Section 115 BAC (New and Old Tax Regime)

2) This Excel Utility has an option where you can choose your option as a New or Old Tax Regime

3) This Excel Utility has a unique Salary Structure for Government and Non-Government Employees Salary Structure.

4) Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2023-24 (Update Version)

5) Automated Income Tax Revised Form 16 Part A&B for the F.Y.2023-24

6) Automated Income Tax Revised Form 16 Part B for the F.Y.2023-24