ITR Filing 2025: Now you need to provide more details for deductions under old tax regime

Making fake income tax deductions and claiming refunds will not be possible for ITR filers in the old tax regime this year. The Income Tax Department now requires taxpayers to provide proof for claiming various deductions under different sections of the Income Tax Act, 1961.

For instance, earlier, taxpayers could make one-time entries for claiming deductions of up to ₹1.5 lakh under the old regime. Now they need to provide a break-up of investments like PPF, ELSS, LIC, etc.

Further, the details submitted by taxpayers will be mapped by PAN and Aadhaar, which will enable cross verification of data from insurance companies, banks, Vahan (mParivahan app), employers, and government platforms. This will curb false deductions and enable correct reporting of income by taxpayers.

Following is a list of some of the details that taxpayers have to provide for claiming deductions under various sections of the Income Tax Act. This will be applicable while filing ITR for FY 2024-25 (AY 2025-26).

• Deduction under Section 80C for specified investments such as Life Insurance Premium, PPF, NSC, ELSS, principal repayment on home loan, etc: You have to disclose policy number or document identification number for eligible investments.

• Deduction against House Rent Allowance for salaried employees living in rented accommodation: You must report the place of work, basic salary, actual HRA received, and rent paid.

• Health insurance premium under Section 80D: Insurance company name and policy number

• Deduction against home loan interest under Section 24b: You need to submit the lender's name, loan account number, sanction date, total loan amount, closing balance, interest amount on loan under Section 24b

• Deduction against higher education loan interest under Section 80C: You need to submit the lender's name, loan account number, loan sanction date, total loan amount, closing balance, and interest amount

• Deduction against electrical vehicle loan interest under Section 80EEB: You need to submit the lender's name, loan account number, loan sanction date, total loan amount, closing balance, interest amount, and vehicle registration number

• Deduction under Section 80DDB for medication treatment expenses of specified diseases for self or dependents: You need to specify the name of the specified disease for the claim.

• Deduction against Section 80EEA for additional deduction for interest on housing loan for affordable residential property beyond Section 80EE: You have to make a similar disclosure as Section 80EE.