Deductions allowed in the new tax regime

The new tax regime allows six deductions and removes everything else. Section 202(2) of the Income-tax Act 2025 computes total income under the default regime without twelve named categories of relief, and what is left standing is the Rs. 75,000 standard deduction, the employer’s contribution to the National Pension System at 14% of basic pay plus dearness allowance, the Central Government’s contribution to the Agniveer Corpus Fund, the family-pension deduction of Rs. 25,000, a short list of prescribed allowances, and interest on a let-out house.

The mechanism matters as much as the list, because it decides the answer to every question the list does not cover. Section 202(2)(a) is an exclusion list, not an inclusion list. A deduction is available in the new regime unless one of the twelve limbs of that sub-section reaches it. That is why the family-pension deduction survives while Section 80C does not: one sits under the head income from other sources and the other sits in Chapter VIII, which limb (xii) sweeps out except for four provisions.

For a central government employee the practical answer narrows further. Where the employer contributes 14% of basic pay plus dearness allowance to the National Pension System, that deduction under Section 124(1)(a) is the only substantial investment-linked relief left in the new regime, and it is often worth more than the whole of the removed Rs. 1,50,000 basket. An employee on the Old Pension Scheme, with no employer contribution to deduct, is left with the standard deduction alone.

This article sets out the exclusion mechanism, then each surviving deduction with its provision and its limit, then what the regime removes and under which limb, then the interaction with the Section 156 rebate, and finally the position for the financial year 2025-26, which is still governed by the repealed Income-tax Act 1961. For the regime itself see new tax regime, and for the head-to-head choice see old versus new tax regime.

How Section 202(2) decides the list

Section 202(2)(a) of the Income-tax Act 2025 is a closed list of twelve exclusions, and a deduction not caught by one of them survives in the default new regime. The sub-section requires total income under Section 202(1) to be computed without any exemption or deduction under the provisions set out below, and the drafting is by cross-reference rather than by description, which is why a plain reading of the section alone answers almost every question about the regime.

Two further restrictions sit alongside the list. Section 202(2)(b)(ii) bars any loss under the head income from house property from being set off against any other head, which is what makes let-out interest useful only up to the rental income it shelters. Section 202(2)(c) requires the computation to be made without any exemption or deduction for an allowance or perquisite, called by any name, provided under any other law in force, so an exemption written into a statute other than the Income-tax Act 2025 has no effect on a Section 202(1) computation.

Nothing in Section 202(2) touches the head-of-income machinery. The 30% statutory deduction on annual value in Section 22(1)(a), the Section 19(1) Table deductions for terminal retirement payments, and the family-pension deduction in Section 93(1)(d) are all outside the exclusion list and all continue.

Standard deduction of Rs. 75,000

The standard deduction in the new regime is Rs. 75,000, or the salary if the salary is less, under serial number 2 of the Table in Section 19(1) of the Income-tax Act 2025. The same serial number allows Rs. 50,000 in any other case, meaning a return in which the option out of the default regime has been exercised under Section 202(4). It is applied by the drawing and disbursing officer without any claim, proof or supporting expenditure.

Section 202(2)(a)(iv) excludes serial number 1 of that Table, and no other entry in it. That single-entry exclusion is the whole reason the standard deduction survives, and it is a stronger foundation than the common description of the deduction as being “retained”: nothing had to retain it, because the exclusion list never reached it.

A pensioner draws the same figure. Section 15(2) of the Income-tax Act 2025 provides that an employer includes a former employer and Section 16(b) provides that salary includes any pension, so a monthly pension is charged under the head Salaries and carries the Section 19(1) Table serial 2 deduction of Rs. 75,000 exactly as a serving employee’s pay does. A family pension is different, because it is charged under income from other sources and draws the smaller deduction in Section 93(1)(d) instead.

Employer contribution to the National Pension System

The employer’s contribution to a notified pension scheme is deductible in the new regime up to 14% of salary where the employer is the Central Government or a State Government, under Section 124(1)(a) of the Income-tax Act 2025. For a central government employee whose employer contributes 14% of basic pay plus dearness allowance to the National Pension System, the whole of that contribution is deductible, and on a Level 13 basic pay of Rs. 1,23,100 with dearness allowance at 60% the deduction runs to about Rs. 2,75,700 a year. It is claimed on top of the Rs. 75,000 standard deduction.

Section 124(13)(b) defines salary for this purpose as including dearness allowance where the terms of employment so provide, and excluding all other allowances and perquisites. House rent allowance, transport allowance and every other element of the pay slip are therefore outside the base, which is why the deduction tracks basic pay plus dearness allowance and nothing more.

A non-government employer is capped at 10% of salary under Section 124(1)(b), but Section 124(2) provides that where the total income of the assessee is chargeable to tax under Section 202(1), the figure 10% in that clause is read as 14%. Parity between government and private employees at 14% therefore exists in the new regime and does not exist in the old one. For a Central or State Government employer the figure is 14% under Section 124(1)(a) in both regimes, so a government employee’s position does not change with the regime.

The employee’s own contribution is removed, and this is the most frequently mistaken point in the regime. The employee’s subscription sits in paragraph 1(y) of Schedule XV, inside the Section 123 basket capped at Rs. 1,50,000, and the further Rs. 50,000 sits in Section 124(3). Both are in Chapter VIII, and Section 202(2)(a)(xii) preserves only Sections 124(1) and 124(2) from that Chapter, so neither is available. The full mechanics are in the NPS tax benefits article.

A subscriber to the Unified Pension Scheme draws the same employer deduction and picks up two provisions of its own. Section 124(11) charges to tax any amount standing to the subscriber’s credit that is received on superannuation, voluntary retirement or retirement under Fundamental Rule 56(j) where that retirement is not treated as a penalty under the CCS (CCA) Rules 1965. Section 124(12) then provides that an amount transferred from the individual corpus to the pool corpus on any of those events is deemed not to have been received, so the transfer itself is not a taxable event. Both expressions take their meaning from Department of Financial Services Notification F. No. FX-1/3/2024-PR dated 24 January 2025.

Agniveer Corpus Fund

Only the Central Government’s contribution to the Agniveer Corpus Fund is deductible in the new regime, not the Agniveer’s own. Section 125(1) of the Income-tax Act 2025 allows a deduction for the whole of the amount an individual enrolled in the Agnipath Scheme pays or deposits into the Agniveer Corpus Fund, and Section 125(2) allows a deduction for the whole of the amount the Central Government contributes to that account. Section 202(2)(a)(xii) preserves Section 125(2) alone.

The practical effect is a wash rather than a loss, because the government’s matching contribution is what enters the Agniveer’s total income in the first place and the Section 125(2) deduction takes it straight back out. The Agniveer’s own subscription is paid out of taxed salary in the new regime, exactly as a general provident fund subscription is.

Section 125(3) fixes the two definitions. The Agnipath Scheme is the scheme for enrolment in the Indian Armed Forces introduced by Ministry of Defence letter No. 1(23)2022/D(Pay/Services) dated 29 December 2022, and the Agniveer Corpus Fund is the fund holding the consolidated contributions of all Agniveers together with the Central Government’s matching contributions and the interest on both. Section 125(1) applies to an Agniveer who subscribed on or after 1 November 2022.

Family pension deduction of Rs. 25,000

A family pensioner deducts one-third of the family pension or Rs. 25,000, whichever is less, under Section 93(1)(d)(i) of the Income-tax Act 2025 where income-tax is computed under Section 202(1). The corresponding figure in Section 93(1)(d)(ii), which applies in any other case, is one-third or Rs. 15,000. The new regime is therefore the better of the two on this deduction alone, by Rs. 10,000 of relief for any family pension above Rs. 75,000 a year.

Section 93(1)(d) defines family pension as a regular monthly amount payable by the employer to a family member of an employee upon the death of that employee, and charges it under the head income from other sources. That placement is what saves the deduction. Section 202(2)(a)(xii) sweeps Chapter VIII, and Section 93 is not in Chapter VIII, so the exclusion list never reaches it.

A family pension of Rs. 30,000 a month, or Rs. 3,60,000 a year, yields one-third of Rs. 1,20,000, so the Rs. 25,000 ceiling binds and the deduction is Rs. 25,000. A family pension of Rs. 6,000 a month, or Rs. 72,000 a year, yields one-third of Rs. 24,000, which is below the ceiling, so the deduction is Rs. 24,000. The interaction with the rest of a pensioner’s return is in income tax for pensioners.

Allowances that stay exempt

The allowances that stay exempt in the new regime are the prescribed ones, and the prescription is in the Income-tax Rules 2026. Section 202(2)(a)(ii) removes serial numbers 12 and 13 of the Table in Schedule III to the Income-tax Act 2025, “other than those as may be prescribed for this purpose”, and rule 280 of the Income-tax Rules 2026, notified by Central Board of Direct Taxes Notification No. 22/2026, G.S.R. 198(E), dated 20 March 2026, is the rule that prescribes them.

Serial number 12 of that Table covers a special allowance or benefit granted to meet expenses wholly, necessarily and exclusively incurred in the performance of the duties of an office, exempt to the extent actually spent. What rule 280 keeps for a Section 202(1) computation is the practical core of the office-expense list: the conveyance allowance granted to meet the expenditure incurred on conveyance in the performance of duties, the allowance granted to meet the cost of travel on tour or on transfer, and the daily allowance on tour granted to meet the ordinary daily charges incurred on account of absence from the normal place of duty. Each remains exempt only to the extent of the expenditure actually incurred.

Serial number 13 covers an allowance granted to meet personal expenses at the place of duty or to compensate for the increased cost of living. Most of it goes in the new regime, including the children education allowance exemption and the hostel subsidy exemption. What survives is the transport allowance for an employee who is blind, deaf, mute or orthopaedically handicapped with a disability of the lower extremities, exempt under rule 15(1) of the Income-tax Rules 2026 at Rs. 15,000 a month plus dearness allowance in the eight metro cities of Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and Ahmedabad, and Rs. 8,000 a month plus dearness allowance elsewhere. Those figures replaced the flat Rs. 3,200 a month that Rule 2BB(1)(b) of the Income-tax Rules 1962 allowed until 31 March 2026, and the exemption is available in both regimes.

The general transport allowance for an employee without a specified disability carries no exemption in either regime, having been subsumed into the standard deduction with effect from 1 April 2018. The house rent allowance exemption at Schedule III Table serial 11, computed under Rule 279 of the Income-tax Rules 2026, and the leave travel concession exemption at serial 8, computed under rule 278, are both named in the Section 202(2)(a)(i) exclusion list and are old-regime only.

Retirement payments: gratuity, commutation and leave encashment

Gratuity, commuted pension and leave encashment are fully relieved for a central government employee in the new regime, and the reason has changed with the Act. Under the repealed Income-tax Act 1961 they were exemptions of a receipt under Sections 10(10), 10(10A) and 10(10AA). Under the Income-tax Act 2025 they are deductions from salary in the Table in Section 19(1), and Section 202(2)(a)(iv) excludes serial number 1 of that Table and nothing else, so every other entry in it stands in the new regime.

A retiring central government employee therefore keeps the whole of the retirement gratuity, the whole of the commuted value of pension at serial 7, and the whole of the leave encashment at serial 13, whichever regime the return is filed under. The choice of regime affects the tax on the monthly pension that follows, not the terminal payments.

Home-loan interest and income from house property

Interest on a home loan is deductible in the new regime for a let-out house and not for a self-occupied one. Section 22(1)(b) of the Income-tax Act 2025 allows the interest payable on capital borrowed to acquire, construct, repair, renew or reconstruct a house property, and Section 202(2)(a)(v) removes that deduction only for a property referred to in Section 21(6), which is a house the owner occupies for their own residence or cannot actually occupy for any reason. Section 21(7)(a) allows an assessee to name two such houses.

The Rs. 2,00,000 ceiling that a reader may be looking for is in Section 22(2)(a) and applies only to a Section 21(6) property, so in the new regime it never bites: the deduction it caps is not available at all. Interest on a let-out house is uncapped against the rental income of that house.

What limits the let-out deduction is the set-off rule rather than a ceiling. Section 202(2)(b)(ii) provides that total income under the new regime is computed without set off of any loss under the head income from house property against any other head, so interest exceeding the annual value net of the Section 22(1)(a) deduction produces a loss that cannot be taken against salary. Section 202(3) then deems that loss to have been given full effect to, which shuts off the carry-forward as well.

The 30% statutory deduction on annual value in Section 22(1)(a) is not in the exclusion list and applies in the new regime as it does in the old. The detail is in home loan interest under Section 24(b).

Other Schedule III exemptions that survive

Section 202(2)(a)(i) names six serial numbers of the Table in Schedule III, and the rest of that Table survives in the new regime. The six removed are serial 5, the daily allowance of a member of Parliament or of a State Legislature; serials 6 and 7, the constituency allowances of a member of Parliament and of a State Legislature; serial 8, the value of a travel concession; serial 11, the house rent allowance; and serial 17, the exemption of up to Rs. 1,500 in respect of each minor child whose income is clubbed under Section 99(1)(c).

Four survivors matter to a government employee or pensioner and are rarely listed in a summary of the regime. Serial number 4 exempts a payment from the National Pension System Trust on a partial withdrawal made under the Pension Fund Regulatory and Development Authority Act 2013 and the regulations under it, to the extent of 25% of the subscriber’s own contributions. Serial number 10 exempts the tax an employer pays, at the employer’s option, on a perquisite provided otherwise than by way of monetary payment. Serial number 14 exempts the pension of an individual in Central or State Government service who has been awarded the Param Vir Chakra, the Maha Vir Chakra, the Vir Chakra or another gallantry award notified by the Central Government, and serial number 15 extends the exemption to the family pension of a member of that individual’s family. Serial number 16 exempts the family pension of the widow, children or nominated heirs of a member of the armed forces, including the paramilitary forces, whose death occurred in the course of operational duties, on the circumstances and conditions prescribed by rule 281 of the Income-tax Rules 2026.

Serial number 9 also survives, exempting allowances or perquisites paid or allowed outside India by the Government to a citizen of India for rendering service outside India, which is the provision that governs an officer on a foreign posting.

Deductions and exemptions removed

The removed list is long, and every entry on it traces to a specific limb of Section 202(2)(a). Chapter VIII of the Income-tax Act 2025 is the successor to Chapter VI-A of the 1961 Act, and limb (xii) removes the whole of it except Sections 124(1), 124(2), 125(2) and 146.

One relief on the old list is now unavailable in either regime. The entertainment allowance deduction for a government employee, which Section 16(ii) of the Income-tax Act 1961 gave at the least of Rs. 5,000, one-fifth of basic salary and the allowance actually received, has no counterpart in the Table in Section 19(1) of the Income-tax Act 2025. That Table carries the professional tax deduction at serial 1, the standard deduction at serial 2, and terminal retirement payments at serials 3 to 14, and nothing else. The relief ceased on 1 April 2026, and the position is set out in entertainment allowance.

Effect on the Rs. 12.75 lakh zero-tax threshold

A salaried person pays no income tax in the new regime on a gross salary up to Rs. 12,75,000, and the figure is built from the standard deduction and the rebate, not from any of the removed deductions. Section 156(2)(a) of the Income-tax Act 2025 allows a resident individual whose total income chargeable under Section 202(1) does not exceed Rs. 12,00,000 a deduction from income-tax of 100% of the income-tax payable or Rs. 60,000, whichever is less. Applying the Section 202(1) rate table to a total income of exactly Rs. 12,00,000 gives Rs. 20,000 on the slab from Rs. 4,00,001 to Rs. 8,00,000 at 5% and Rs. 40,000 on the slab from Rs. 8,00,001 to Rs. 12,00,000 at 10%, a total of Rs. 60,000, which the rebate extinguishes exactly.

The Rs. 75,000 standard deduction at Section 19(1) Table serial 2 is what carries the gross salary figure from Rs. 12,00,000 to Rs. 12,75,000. Section 156(2)(b) provides marginal relief immediately above the threshold, so a small excess over Rs. 12,00,000 of total income does not attract the full slab tax on the whole amount, and Section 156(3) caps the total relief at the tax payable at the Section 202(1) rates.

The surviving deductions push that threshold higher for the employee who has them. A central government employee whose employer contributes Rs. 2,00,000 to the National Pension System in the year reaches a total income of Rs. 12,00,000 on a gross salary of Rs. 14,75,000, because the Section 124(1)(a) deduction comes off before the rebate test is applied. The Section 87A rebate article works through the interaction, and the income tax calculator computes it both ways.

Position of a central government employee

For a central government employee covered by the National Pension System, the new regime leaves two deductions worth having and the arithmetic usually favours it. The standard deduction of Rs. 75,000 and the employer’s contribution at 14% of basic pay plus dearness allowance together exceed the Rs. 1,50,000 Section 123 basket at any basic pay above roughly Rs. 90,000 a month at a dearness allowance rate of 60%, and the employer contribution is deductible in the old regime as well, so it is not a reason to prefer either regime on its own.

For an employee on the Old Pension Scheme there is no employer contribution to deduct, and the new regime reduces to the standard deduction alone. That employee is the one for whom the old regime deserves a computation: a full general provident fund subscription at Rs. 1,50,000, a self-occupied home-loan interest deduction at Rs. 2,00,000, health insurance under Section 126 and the house rent allowance exemption together reach a level of relief the new regime cannot match at any income.

For a pensioner the position turns on the family-pension question. A service pensioner draws the Rs. 75,000 standard deduction on the pension itself and has usually retired the home loan and the provident fund subscription, which leaves little in the old regime to weigh against the lower Section 202(1) rates. A family pensioner is better off in the new regime on the deduction alone, at Rs. 25,000 under Section 93(1)(d)(i) against Rs. 15,000 under Section 93(1)(d)(ii), and loses the Section 153 deduction on deposit interest in exchange.

The general rule is that the regime should be computed both ways on the actual figures rather than reasoned about, because the answer moves with the size of the removed deductions the individual genuinely claims and not with the size of the ones available in principle.

Old regime and new regime compared

The two regimes differ on the deduction list rather than on the machinery of computation, and the following comparison sets out the position of a central government employee item by item for the tax year 2026-27.

The option out of the default regime is exercised under Section 202(4). A person with no income from business or profession exercises it along with the return of income furnished under Section 263(1) for the tax year, and may switch in either direction in any later year. A person with income from business or profession must exercise it on or before the due date under Section 263(1), the option then applies to subsequent years, it may be withdrawn only once, and after that withdrawal the person is never again eligible to exercise it while the business income continues. The mechanics of the election are in Form 10-IEA to opt out of the new regime.

Financial year 2025-26 under the repealed 1961 Act

The return for the financial year 2025-26, filed from mid-2026, is governed by the repealed Income-tax Act 1961, and the allowed list is the same in substance under different numbers. The new regime is Section 115BAC, the standard deduction of Rs. 75,000 is Section 16(ia), the employer’s National Pension System contribution is Section 80CCD(2), the Agniveer deduction preserved by Section 115BAC(2)(i) is Section 80CCH(2), the family-pension deduction of Rs. 25,000 is the proviso to Section 57(iia) inserted by the Finance (No. 2) Act 2024, and the surviving duty allowances rest on Rule 2BB(3) of the Income-tax Rules 1962, inserted by Central Board of Direct Taxes Notification No. 43/2023.

The Income-tax Act 2025 received the assent of the President on 21 August 2025 and came into force on 1 April 2026, applying from the tax year 2026-27. The Income-tax Rules 2026 were notified with it by Central Board of Direct Taxes Notification No. 22/2026, G.S.R. 198(E), dated 20 March 2026, with effect from the same date.

Two differences between the two Acts are worth noting rather than assuming away. The entertainment allowance deduction under Section 16(ii) of the 1961 Act has no counterpart in the 2025 Act and is available for the financial year 2025-26 and not afterwards. The transport allowance exemption for an employee with a specified disability was Rs. 3,200 a month under Rule 2BB(1)(b) of the 1962 Rules and is Rs. 15,000 a month plus dearness allowance in the eight metro cities and Rs. 8,000 a month plus dearness allowance elsewhere under rule 15(1) of the 2026 Rules.

Related Articles

• New tax regime
• Old tax regime
• Old versus new tax regime
• Section 115BAC
• Form 10-IEA to opt out of the new regime
• Income-tax Act 2025
• Standard deduction
• Section 87A rebate
• NPS tax benefits
• National Pension System
• Unified Pension Scheme
• Old Pension Scheme
• Agniveer Corpus Fund
• Section 80C
• Section 80D
• Section 80TTB
• Home loan interest under Section 24(b)
• HRA exemption under Section 10(13A)
• Leave travel concession
• Entertainment allowance
• Transport allowance
• Conveyance allowance
• Daily allowance on tour
• Children education allowance
• Family pension
• Central government pension
• Commutation of pension
• Gratuity for central government employees
• Leave encashment
• General Provident Fund
• CCS (CCA) Rules 1965
• Income tax for government employees
• Income tax for pensioners
• Income tax calculator
• Central government employees in India

External references

• Income Tax Department: e-filing portal
• Income Tax Department: Acts and Rules
• Income Tax Department: Income-tax Rules, 2026
• Central Board of Direct Taxes
• Department of Revenue, Ministry of Finance
• Department of Financial Services
• Pension Fund Regulatory and Development Authority

References

1. Income-tax Act, 2025 (Act No. 30 of 2025), assented 21 August 2025 and in force from 1 April 2026, repealing the Income-tax Act, 1961; Section 202, the new tax regime for individuals, Hindu undivided families and others, with the rate table in Section 202(1), the twelve-limb exclusion list in Section 202(2)(a), the set-off bars in Section 202(2)(b), the bar on reliefs under any other law in Section 202(2)(c), and the option out in Section 202(4).
2. Income-tax Act, 2025, Section 19(1) Table: serial number 1, the deduction for tax on employment levied under article 276(2) of the Constitution, excluded from the new regime by Section 202(2)(a)(iv); serial number 2, the standard deduction of Rs. 75,000 where income-tax is computed under Section 202(1) and Rs. 50,000 in any other case; and serial numbers 3 to 14, the deductions for gratuity, commutation of pension and the cash equivalent of earned leave.
3. Income-tax Act, 2025, Section 124: sub-section (1)(a), the employer’s contribution to a notified pension scheme at 14% of salary for a Central or State Government employer; sub-section (1)(b), 10% for any other employer; sub-section (2), substituting 14% for 10% where total income is chargeable under Section 202(1); sub-section (3), the further Rs. 50,000 for the assessee’s own contribution; sub-sections (11) and (12), the Unified Pension Scheme individual corpus and pool corpus, read with Department of Financial Services Notification F. No. FX-1/3/2024-PR dated 24 January 2025; and sub-section (13)(b), defining salary as including dearness allowance where the terms of employment so provide.
4. Income-tax Act, 2025, Section 125, the Agnipath Scheme deduction, of which only sub-section (2), the Central Government’s contribution to the Agniveer Corpus Fund, is preserved in the new regime by Section 202(2)(a)(xii); and Section 125(3), citing Ministry of Defence letter No. 1(23)2022/D(Pay/Services) dated 29 December 2022.
5. Income-tax Act, 2025, Section 93(1)(d), the family-pension deduction of one-third or Rs. 25,000 where income-tax is computed under Section 202(1) and one-third or Rs. 15,000 in any other case.
6. Income-tax Act, 2025, Sections 20 to 22, income from house property: Section 21(6) and 21(7), nil annual value for up to two self-occupied houses; Section 22(1)(a), the deduction of 30% of annual value; Section 22(1)(b), interest on borrowed capital; and Section 22(2)(a), the Rs. 2,00,000 ceiling for a Section 21(6) property, which Section 202(2)(a)(v) removes from the new regime.
7. Income-tax Act, 2025, Schedule III (see Section 11), income not to be included in total income: serial numbers 5, 6, 7, 8, 11 and 17 excluded from the new regime by Section 202(2)(a)(i), and serial numbers 12 and 13 excluded by Section 202(2)(a)(ii) other than as prescribed; and Schedule XV, read with Section 123, the aggregate deduction of Rs. 1,50,000.
8. Income-tax Act, 2025, Sections 156(1), 156(2) and 156(3), the rebate of the whole of the income-tax payable up to Rs. 60,000 where total income chargeable under Section 202(1) does not exceed Rs. 12,00,000, with marginal relief above that figure.
9. Income-tax Rules, 2026, notified by Central Board of Direct Taxes Notification No. 22/2026, G.S.R. 198(E), dated 20 March 2026 with effect from 1 April 2026: rule 15, the transport allowance exemption for an employee with a specified disability; rule 278, the leave travel concession conditions for Schedule III Table serial 8; Rule 279, the house rent allowance limits for serial 11; rule 280, the prescribed allowances for serials 12 and 13; and rule 281, the conditions for serial 16.
10. Income-tax Act, 1961 (repealed with effect from 1 April 2026), Section 115BAC and Section 115BAC(2)(i), Section 16(ia), Section 16(ii), Section 80CCD(2), Section 80CCH(2) and the proviso to Section 57(iia) inserted by the Finance (No. 2) Act 2024, read with Rule 2BB(3) of the Income-tax Rules, 1962 as inserted by Central Board of Direct Taxes Notification No. 43/2023, governing the financial year 2025-26.