Pay Almost ZERO Income Tax: Use These Deductions Under the Old Regime

Pay Almost ZERO Income Tax: Use These Deductions Under the Old Regime

Many taxpayers continue to opt for the old tax regime because it allows taxpayers to claim various deductions and exemptions, helping reduce their taxable income, which reduces their overall tax liability. As of June 30, 2025, around 67 lakh people have already filed and verified their income tax returns (ITRs), mostly using ITR-1 and ITR-4, which are available for online filing.

However, ITR-2 and ITR-3 still cannot be filed online, as they are still unavailable on the portal. This delay might lead to a last-minute rush as the deadline to file returns for the financial year 2024-25 (assessment year 2025-26) is September 15, 2025. If you wait for the end, you might miss out on claiming some tax deductions that you are eligible for. Therefore, it is better to get started early and avoid the last-minute hassle. Let us get familiar with some popular deductions that you can use to reduce your tax liability.