What are the tax deductions available for salaried individuals in India?

Salaried individuals in India can claim various tax deductions under different sections of the Income Tax Act. Key deductions include: Section 80C (investments up to Rs. 1.5 lakh), Section 80D (health insurance premiums), Section 80E (education loan interest), Section 80EE (interest on home loan), Section 80TTA (interest on savings accounts), and standard deduction (Rs. 50,000). Note: Finance Act 2025 has increased the 80C limit to Rs. 2 lakh effective from April 1, 2025. Supporting Case Law: Ashok Kumar Gupta v. CIT (Supreme Court – 2021) – Affirmed the eligibility criteria for various deductions under relevant sections. Current Status: These deductions remain applicable for FY 2025-26 with the increased 80C limit.

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