7 Additional Information and Details required in ITR-1 and ITR-4 for A.Y. 2025–26 especially for Taxpayers in Old Regime
1. Enhanced Disclosure for House Rent Allowance (HRA) A.y.2025-26
“New HRA Exemption Rules for ITR-1 & ITR-4 in A.Y. 2025-26: Key Details for Old Tax Regime Filers
Taxpayers claiming HRA exemption under Section 10(13A) for A.Y. 2025-26 must now submit detailed information in ITR-1 and ITR-4 forms. These include:
- Place of Work: Specify your workplace location
- Actual HRA Received: Report the exact HRA amount received from your employer
- Actual Rent Paid: Provide the total rent paid for the year.
- Basic Salary and Dearness Allowance: Include your basic salary and DA details.
- Metro/Non-Metro Limit: Declare 50% of basic salary for metro cities or 40% for non-metro cities
These updates ensure accurate calculation of HRA exemption under Section 10(13A).
- Section 80C Deductions (PPF, Insurance Premiums)
To claim deductions for PPF or insurance premiums, include:- Document/Receipt Number
- PPF Account Number
Insurance Policy Number
- Section 80D: Health Insurance
For medical/health insurance deductions, provide:- Insurance Company Name
- Policy/Document Number
- Section 80E: Education Loan Interest
For education loan interest deductions, submit:- Lender Name
- Bank Name
- Loan Account Number
- Loan Sanction Date
- Total Loan Amount
- Outstanding Loan as of March 31
- Section 80EE/80EEA: Home Loan Interest
For residential property loan interest deductions, include:- Lender Name
- Bank Name
- Loan Account Number
- Loan Sanction Date
- Total Loan Amount
- Outstanding Loan as of March 31
- Section 80EEB: Electric Vehicle Loan Interest
For electric vehicle loan interest deductions, provide:- Lender Name
- Bank Name
- Loan Account Number
- Loan Sanction Date
- Total Loan Amount
Outstanding Loan as of March 31
- Section 80DDB: Medical Treatment of Specified Diseases
For deductions on treatment of specified diseases, mention: Taxpayers claiming deductions under Section 80DDB for medical treatment of specified diseases are now required to mention the:
Name of the Specified Disease
Simplify Your ITR-1 & ITR-4 Filing for A.Y. 2025-26: Stay Compliant with New Deduction Rules
Ensure hassle-free tax filing under the old tax regime by accurately reporting these updated details for Sections 80C, 80D, 80E, 80EE/80EEA, 80EEB, and 80DDB. Stay informed, organize your documents, and maximize your deductions effortlessly
