Reviewed 2 October 2026. This checklist concerns FY 2025-26 / AY 2026-27. Establish the year and regime before using a deduction. A maximum limit is not an amount every taxpayer can claim.
Start with income and regime
Reconcile salary, interest and other income, then compare the full tax calculation. Most personal-investment deductions and common salary exemptions discussed under the old regime do not apply in the same way under the new regime. Do not invest in a locked product before checking whether the claim changes your tax.
Salary deductions
For this year, the eligible salary standard deduction is up to ₹50,000 under the old regime and up to ₹75,000 under the new regime, limited by applicable salary income. HRA and other salary exemptions require their own eligibility and calculations; rent paid does not automatically become an equivalent deduction. Employer NPS contributions are assessed separately from your own contributions.
Investment and insurance checklist
| Claim | What to verify |
|---|---|
| Eligible 80C-type investments/payments | Old-regime eligibility and unused shared ceiling, including employee PF |
| Personal NPS contribution | Eligible contribution, regime and whether already counted elsewhere |
| Health insurance | Covered persons, ages, payment conditions and applicable limit |
| Housing loan | Property use, ownership, completion conditions and regime |
| Donations | Eligible institution, receipt, deduction percentage and payment restrictions |
Other claims, such as education-loan interest or eligible savings/deposit interest, have specific conditions. Use the official guide’s relevant section rather than adding every advertised maximum.
Avoid double counting
If ₹1 lakh of qualifying employee PF contributions already occupies a shared ₹1.5 lakh ceiling, the remaining capacity is ₹50,000 before other qualifying items. An additional eligible ₹1 lakh contribution does not create a second full ceiling.
A hypothetical ₹50,000 deduction reduces taxable income by ₹50,000. It does not give a ₹50,000 refund. The saving depends on your actual slab calculation, rebate, relief and other income.
Keep the evidence
Retain Form 16, payroll records, eligible payment receipts, loan statements and investment records. Compare declarations with what was actually paid during the financial year. Do not claim an unmade payment or fabricate supporting documents. For mixed income, capital losses, foreign assets or uncertain eligibility, use the relevant official instructions or seek qualified tax assistance.
Sources and further reading
Useful tools and related guides
Educational information: The Invest Mate does not provide personalised financial advice. Examples are illustrations, not promised returns. Check applicable rules and product documents before acting.
