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Guides to Indian rules: income tax regimes and deductions, EPF and NPS, IRDAI-regulated insurance, and the health and life cover most households actually buy.
2 guides
Covered here: EPF · PPF · NPS · Section 80C · Section 80D · IRDAI · ULIP · figures in INR
The new tax regime has been the default since AY 2024-25, and it does not allow 80C or 80D at all. Whether the old regime is still worth choosing is arithmetic, not opinion — here are the AY 2026-27 slabs, rebates and limits to do it with.
Section 80D is two allowances, not one — a limit for your own household and a separate limit for premiums paid for your parents. Both double where the insured is a senior citizen, and both vanish if you are in the default tax regime.