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of <h1>New Tax Regime AY 2024-25: Deductions Limited Under Section 115BAC; Opt Old Regime for Chapter-VIA Benefits.</h1> Under the new tax regime for Assessment Year 2024-25, taxpayers cannot claim deductions under Chapter-VIA, such as sections 80C, 80D, 80DD, and 80G, except for deductions under sections 80CCD(2), 80CCH, and 80JJAA according to Section 115BAC of the Income Tax Act, 1961. To claim other deductions, taxpayers must opt for the old tax regime by selecting the appropriate option in the Income Tax Return forms (ITR 1, 2, 3, 4, or 5) under the sections for 'opting out option' in the personal information or general part of the respective ITR.
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