The Old Tax Regime offers several valuable deductions:
- Section 80C: Up to ₹1.5 lakh (PPF, ELSS, Life Insurance)
- Section 80D: Health Insurance premium up to ₹25,000
- HRA: House Rent Allowance benefits
- Home Loan: Interest deduction up to ₹2 lakh
- NPS: Additional ₹50,000 under Section 80CCD(1B)
These deductions can significantly reduce your taxable income. For example, if your income is ₹10 lakh and you claim maximum 80C and home loan benefits, your taxable income could reduce by ₹3.5 lakh.