New Vs. Old Tax Regime: What Exemptions and Deductions Are Allowed & Not Allowed?

[@renupali627]

Great explanation 👏

[@pravinwankar2181]

Sir I am train driver in Railway. In old tax regime I get deduction of running allowance to the extent of 30% of such allowance subject to maximum of rs 10000/ per month under section 10(14). If I opt new tax regime, will this deduction be available in new tax regime also? Please clarify.

[@pravinwankar2181]

Sir I am working as a train driver in Railway. In old tax regime i get deduction of running allowance to the extent of 70% of such allowance subject to maximum of rs 10000/ per month under section 10(14). If I opt new tax regime will this deduction be available in new tax regime also? Please clarify.