Are PPF, mediclaim a must in new tax regime?
The Income-tax Act, 1961, provides an option to file the tax return using the default new tax regime (applicable for AY 2024-25) under section 115BAC of the Act or opting for the old tax regime.
I am planning to opt for the new tax regime while filing my income tax return (ITR) for the assessment year (AY) 2024-25. Should I continue to deposit ₹1.5 lakh per annum in public provident fund (PPF) and in my mediclaim? Is it necessary to show these two items in my ITR under the new regime?
—Name withheld on request