Major Amendments in ITR Related to Deductions
The Income Tax Department has notified the ITR-1 and ITR-4 for the assessment year 2025-26 (Income earned in the financial year 2024-25).
There are major amendments that have been introduced to the deductions of ITR by the Department. Below are listed all the major amendments introduced by the department:
All the amendments mentioned below are applicable only Old Tax Regime:
1. House Rent Allowances
- Place of Work
- Actual HRA Received
- Actual Rent Paid
- Basic Salary
2. 80C Deduction: Policy Number or Document Identification Number
3. 80D Deduction: Health Insurance
- Name of Insurance Company
- Policy Number
4. 80E Deduction: Interest on loan taken for higher education
- Loan taken from
- Name of bank from which loan is taken
- Loan account number of Bank
- Date of Sanction of Loan
- Total amount of Loan
- Loan outstanding as on 31st March
5. 80EE Deduction: Interest on loan taken for Residential House Property
- Loan taken from
- Name of bank from which loan is taken
- Loan account number of Bank
- Date of Sanction of Loan
- Total amount of Loan
- Loan outstanding as on 31st march
6. 80EEA Deduction: Interest on loan taken for Certain House Property
- Loan taken from
- Name of bank from which loan is taken
- Loan account number of Bank
- Date of Sanction of Loan
- Total amount of Loan
- Loan outstanding as on 31st march
7. 80EEB Deduction: Interest Paid on purchase of Electric Vehicle
- Loan taken from
- Name of bank from which loan is taken
- Loan account number of Bank
- Date of Sanction of Loan
- Total amount of Loan
- Loan outstanding as on 31st march
- Vehicle Registration Number
8. 80DDB Deduction Medical Treatment of Specified Disease: Name of Specified Disease
